March 9 2014 Latest news:
Tuesday, December 10, 2013
Former BT chief executive Ian Livingston has officially succeeded Lord Green as Trade and Investment Minister.
As Lord Livingston, he will serve as a Minister of State jointly at the Department for Business, Innovation and Skills and at the Foreign and Commonwealth Office.
He will continue the work Lord Green has undertaken to help Britain compete globally, growing the UK’s exports and attracting further investment from overseas, reporting to both the Secretary of State for Business and the Foreign Secretary.
Prime Minister David Cameron said: “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.
“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 Green added: “I am proud to have served as Trade Minister for the past three years. This has been one of the most rewarding roles of my entire career.
“I’m very pleased the Prime Minister decided to appoint Ian Livingston as my successor. He is an outstanding businessman and will be an outstanding Trade Minister to continue this work.”
Lord Livingston was chief executive of BT from 2008 until earlier this year, during which time free cash flow tripled and BT became one of the best performing European telecommunication stocks.
He has been succeded at BT as chief executive by Gavin Patterson who has been with the group for nine years and was previously chief executive of its BT Retail division.