Matt Hancock has been given the retail brief at the Department for Business, Innovation and Skills (BIS) amid the cabinet reshuffle.
Hancock, Conservative MP for West Suffolk, has been appointed Minister of State for BIS, replacing Michael Fallon in the post after Fallon was handed the Defence Secretary brief. The role includes responsibility for retail.
Hancock has been promoted from BIS Minister of State for Skills and Enterprise, which he has held since October 2013.
He said: “It is an honour to be asked to attend Cabinet as Minister for Business, Enterprise and Energy.
“I am from a small business background myself and having worked so closely with the business community in West Suffolk over the past four years, I am delighted to be able to take on this role in Government.”
He has also been handed the role of Minister of State at the Department for Energy and Climate Change and Minister of State for Portsmouth.
Hancock started his career at his family’s computer software business before working as an economist at the Bank of England. He has previously worked alongside Chancellor George Osborne when the last Labour government was in power.