July 24, 2014 10:52 PM ET

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Company Overview of Department for Business, Innovation and Skills

Company Overview

Department for Business, Innovation and Skills is a government department for economic growth. The department invests in skills and education to promote trade, boost innovation, and help people to start and grow a business. It also protects consumers and reduces the impact of regulation. Department for Business, Innovation and Skills was formerly known as U.K. Department for Business, Enterprise and Regulatory Reform and changed its name to Department for Business, Innovation and Skills in 2009. The department was founded in 2007 and is based in London, United Kingdom.

1 Victoria Street

Department for Business, Innovation & Skills

London,  SW1H 0ET

United Kingdom

Founded in 2007

Key Executives for Department for Business, Innovation and Skills

Chief Scientific Adviser
Compensation as of Fiscal Year 2014.

Department for Business, Innovation and Skills Key Developments

Constructionline Put Up For Sale By BIS

Department for Business, Innovation and Skills (BIS) is planning to sell its Constructionline. Investors are being invited to submit their interest for purchasing the service that brings together buyers and suppliers in the construction industry. BIS spokesperson said, "Constructionline offers valuable services to the construction industry, particularly small and medium sized businesses. It has grown significantly under government ownership, and now is the time to enable it to expand further to meet the needs of a changing industry. Gaining access to private capital will enable Constructionline to become even more competitive and branch out into new markets. Bids will be welcomed from buyers who plan to grow the services provided by Constructionline."

Department for Business, Innovation and Skills Appoints Allan Cook as Lead Non-Executive Board Member

Business Secretary Vince Cable has announced the appointment of Allan Cook as the Lead Non-Executive Board member at the Department for Business, Innovation and Skills (BIS). Non-executive board members are experts from outside government who assist in the delivery of policy using relevant experience from business. Allan is a chartered engineer with more than 30 years' international experience in the automotive, aerospace and defence industries, and took up the post of chairman of Atkins in February 2010. He is also Chairman of Selex ES, Finmeccanica UK and Deputy Chairman of Marshall Group. Allan will attend his first departmental board meeting on 6 March 2014. Professor Dame Ann Dowling has been appointed as a non-executive board member and will also attend her first departmental board meeting on 6 March 2014. Ann is Head of the Department of Engineering and Deputy Vice-Chancellor at the University of Cambridge, where she is Professor of Mechanical Engineering and chair of the University Gas Turbine Partnership with Rolls-Royce. Ann is a Non-Executive Director of BP. She will become the first female president of the Royal Academy of Engineering in September 2014.

Sir Andrew Witty to Leave His Role on the Board of Department for Business, Innovation & Skills at the End of 2013

GlaxoSmithKline plc announced that its Chief Executive Sir Andrew Witty was stepping down from a key Whitehall post. Witty will leave his role on the board of Department for Business, Innovation & Skills at the end of 2013. It had always been planned that he would leave when his three-year term finished in 2013 and he was looking forward to the publication of his review into universities and economic growth.

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