The former chief executive's name has been put forward as a potential candidate for the role.
CBI members will be asked to endorse Mr Drechsler's appointment as President at the organisation's annual general meeting on 13 July.
He will succeed Sir Mike Rake.
Mr Drechsler is currently Chairman of Bibby Line Group.
He joined Wates in September 2004 and became Chairman and Chief Executive in April 2006 until 2014.
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Commenting on his nomination, Mr Drechsler said: "I am delighted to have been nominated for the role of CBI President.
"This is a critically important time for the economy with plenty of challenges ahead. I look forward to continuing Sir Mike’s excellent work with CBI members and politicians to boost jobs and growth across all UK businesses, regions and nations."
He added: "The coming months will be dominated by the prospect of an EU referendum and my focus will be on working with businesses and the Government to champion ambitious reform to ensure the EU delivers for businesses and citizens at home and on the Continent."
Mr Drechsler went further, stating he will focus on securing high quality infrastructure the UK needs to compete 'on the world stage'.
Having been a member of the CBI Board since 2012, Mr Drechsler was Chairman of the CBI Energy Policy Committee between 2007 and 2012 and a member of the Chairmen’s Committee.
In February, he was awarded an Honorary CBE for services to the construction industry.
(LM)
