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Richard Gillingwater takes on new role

Richard Gillingwater, currently Chief Executive of the Shareholder Executive, will take on a new role as Chair of the Shareholder Executive from September 2006. The Government will now recruit a successor to Richard as Chief Executive.

Gus O'Donnell, Cabinet Secretary, said:

‘Richard Gillingwater has played a vital role in the creation and development of the Shareholder Executive. I am pleased that we are able to retain Richard's expertise and relationships, as the Shareholder Executive moves forward.’

Notes to editors

1. The Shareholder Executive is a unique organisation within Government. Established three years ago it;
   • manages the Government's shareholder relationship with over 25 major Government–owned businesses such as the Royal Mail, BNFL, Channel 4, NATS and the Royal Mint – a portfolio of businesses with a combined turnover of some £20 billion;
   • acts on the Government's behalf on issues relating to businesses that are not under Government ownership, for example on industrial and regional development, and launch investment;
   • advises Ministers and Government departments generally on corporate finance, corporate governance and other business issues;
2. The Shareholder Executive is located in the Department of Trade and Industry, and works in close partnership with the DTI, Treasury, MOD, Cabinet Office and other Government departments.
3. The Chief Executive will be a full–time appointment, reporting to the Chair.
4. The post of Chief Executive of the Shareholder Executive has been advertised today.

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