Shareholder Executive

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The Shareholder Executive was created in September 2003 to improve the government's performance as a shareholder in businesses. We currently have a portfolio of 26 businesses in which the Government has a shareholding. Our role is to work with government departments and management teams to help these businesses perform better. We want to create a climate of ownership that, while challenging, is genuinely supportive and provides the framework for them to succeed. We advise Ministers and officials on a wide range of shareholder issues including objectives, governance, strategy, performance monitoring, board appointments and remuneration.

We also have a wider role as a corporate finance resource within government. This is applied beyond the portfolio of government-owned businesses, for example to applications for support under regional and industrial assistance programmes. We also provide support and advice on rescue aid restructuring.

We have also been tasked to programme manage the Operational Efficiency Programme (OEP). The Operational Efficiency Programme was launched by the Chief Secretary to the Treasury on 3rd July 2008. It builds on the Spending Review 2004 Efficiency Programme which delivered over £23 billion in savings, and on existing plans to deliver another £30 billion in savings as part of the CSR07 value for money programme.

In the PBR in November 2008, the Government announced more detail on the OEP. With respect to the asset strand, it announced a programme of work on a number of assets, many of which are in the Shareholder Executive portfolio.

The aim of the review is to identify efficiency savings which may result in significant changes to existing business models.