Lingerie tycoon Michelle Mone quits Ultimo board to focus on role as start-up ‘tsar’

Businesswoman Michelle Mone has revealed she is quitting the boards of the bra businesses she created to focus on her new role as a Government adviser.

Earlier this month Ms Mone, who founded the Ultimo underwear business, was named as the government’s new start-up tsar. She is also tipped to be on the list of new Tory peers later this month.

Ultimo and its related company, MJM International, said that Ms Mone, who recently relocated to London, “has new business interests and has recently taken on new responsibilities with the UK Government”.

“As such, Michelle will spend most of her time on these new projects and commitments, leaving limited time for her engagements with Ultimo”, the company said.

She has promised to travel the length of the country for her review into business start-ups in disadvantaged communities. The Government has said that it wants to return Britain to being a “nation of shopkeepers”.

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