Eric Hagman is currently the non-executive Chairman of Matthew Algie Ltd and Espresso Warehouse Ltd, a member of the UK Advisory Board of AON Limited, a member of the UK Regional Advisory Board of UBS Wealth Management, a non-executive director of The Scottish American Investment Trust plc and treasurer of the Royal College of Art in London. He is also on the advisory forum of Caledonian University.

He is a former director of British Polythene Industries plc, Celtic plc, Scottish Rugby Union plc, Scottish Enterprise, the Council of CBI Scotland and Scottish Financial Enterprise.

Hagman is also working in a non-executive capacity with a number of private companies.

He received the CBE for contribution to economic development in Scotland in 2004.