Poppy Gustafsson resigned as Britain’s Investment Minister on Fri, Oct 27, 2023, after less than a year in the position. Gustafsson, co-founder of Darktrace, was appointed to attract global investment to the UK.

Resignation Details

Gustafsson’s resignation occurred shortly before a major investment summit in Birmingham. Reports indicate that she was frustrated with the slow pace of government operations and decision-making processes. Concerns were previously raised about her political experience and involvement in complex fraud cases, despite her reputation in business and cybersecurity, marked by her co-founding of Darktrace and recognition with an OBE and CBE.

New Appointment

Jason Stockwood, vice chair of Grimsby Town Football Club and former executive at Match.com, has been appointed as the new Investment Minister. Stockwood will transition from his club duties and join the House of Lords. His background includes co-ownership of Grimsby Town since 2021 and previous involvement in political candidacy.

Stockwood’s appointment follows a series of changes within Prime Minister Keir Starmer’s team, including the resignation of Deputy Angela Rayner, which initiated a broader governmental reshuffle. The upcoming investment summit in Birmingham will serve as an initial test for Stockwood’s capabilities in his new role.