The Government has announced that Lord Livingston has succeeded Lord Green as Trade and Investment Minister.
Ian Livingston will be Minister of State jointly at the Department for Business, Innovation and Skills and at the Foreign and Commonwealth Office following the retirement from government of Lord Green of Hurstpierpoint.
Lord Livingston, who is the outgoing Chief Executive of BT Group, will continue the work Lord Green has undertaken to help Britain compete in the global race; growing the UK’s exports and attracting further investment from overseas.
He will report to both the Secretary of State for Business and the Foreign Secretary.
“Ian Livingston is an outstanding business leader and it is a testament to the importance of this role that he has agreed to serve in the government in this capacity,” said Prime Minister David Cameron. “I know that he will make an invaluable contribution to our plan to help secure Britain’s long-term economic future, by helping to open new trade links and grow our exports.
“Stephen Green has made a huge contribution to promoting trade and investment, leading the reform and rejuvenation of UK Trade & Investment, which now assists a significantly greater number of small and medium sized businesses to export around the globe.
“Our drive to compete in the global race has been aided immensely by his business acumen and his tireless work in promoting the best of Britain worldwide. I would like to thank him and wish him the very best as he retires from government.”
Lord Livingston said: “It is an honour to start in my new role as Minister of State for Trade and Investment. “The UK has some of the best and most dynamic companies in the world and has one of the most open business environments for investment. Last week I joined the Prime Minister on his trade mission to China and it highlighted the real opportunities for the UK and its companies.
“I am looking forward to the important work ahead, encouraging more UK firms to export and promoting this country as a world leading destination for inward investment.”
Lord Livingston was CEO of BT Group from 2008 until 2013. Over that period free cash flow tripled and BT has become one of the best performing European Telco stocks. Lord Livingston oversaw one of the fastest fibre rollout programmes in the world, invested in strengthening the company’s global presence and launched a major new TV sports service.
Outgoing Trade Minister Lord Green said he was proud to have served in the portfolio for the past three years, describing the appointment as the “most rewarding role” of his entire career.
“I’m very pleased the Prime Minister decided to appoint Ian Livingston as my successor,” said Lord Green. “He is an outstanding businessman and will be an outstanding Trade Minister to continue this work.”