Kemi Badenoch has replaced another member of her top team, ousting Sir Mel Stride as shadow chancellor and appointing Andrew Griffith in his place.
The Conservative leader is carrying out a reshuffle of her shadow cabinet before Parliament’s return on Tuesday, and before the party’s conference in October.
Claire Coutinho, previously the shadow energy secretary, will replace Mr Griffith as shadow business secretary, while Sir Mel will join Tory big beasts Dame Priti Patel and Sir James Cleverly on the back benches amid the ongoing shake-up.
Dame Priti left her role as shadow foreign secretary on Sunday, to be replaced by Conservative former minister Tom Tugendhat.
Sir James announced on Saturday he will stand down as shadow housing secretary to take a run at the Tory candidacy for London mayor.
A senior Tory source said Mr Griffith had been appointed because of his “incredibly impressive financial and business background”, pointing to his work as a former Sky executive and as chairman of Just Eat.
They added: “While the Labour front bench has almost no private sector experience, Andrew’s experience means he not only knows but understands the many issues that businesses face and has a wealth of contacts in the business community.”
Mrs Badenoch paid tribute to Sir Mel’s work as shadow chancellor, and said: “Like Priti, Mel came into the job at an exceptionally difficult point for the Conservative Party.
“He brought experience, seriousness and stability when those things were badly needed. He helped us steady the ship, rebuild economic credibility and become an effective opposition, and I am genuinely grateful for his contribution.
“The Conservative Party would not have got where we are without his work and his very effective skewering of Rachel Reeves and her disastrous time as chancellor. Mel has been very supportive of the new economic team and the party, and been exceptionally loyal, and I will always be grateful to him for the work he has done.”
Sir Mel described his time in the senior Tory role as a “great honour”, and added: “The Conservative party must continue to champion an approach which is both radical and deliverable.
“It is essential that the next Conservative government does things very differently, backing business like never before and getting government out of the way. The Conservatives have a good story to tell on this now and one that I know will continue to grow stronger and stronger under Kemi’s leadership.
“I am now looking forward to continuing to make a real contribution to the Conservative team in Parliament and beyond, to build and amplify our vision for Britain, from the back benches.”
Mr Tugendhat said following his official appointment he would “continue to do what I’ve always done in uniform and in Parliament: to defend our people, protect our interests and work with our allies to make Britain stronger”.
New shadow business secretary Ms Coutinho is currently on maternity leave.
Her role will be covered by Conservative former minister Julia Lopez until the new year.
Richard Fuller continues in his role as a shadow Treasury minister.
Joy Morrissey, a former opposition whip, has been appointed shadow minister for women and equalities, while James Cartlidge remains the shadow defence secretary.
Two 2024 intake Conservative MPs, Rebecca Paul and Harriet Cross, have been appointed as shadow culture secretary and shadow Scotland secretary respectively.
The Conservatives’ political rivals were quick to point out the new shadow chancellor’s past support for Liz Truss and her mini budget, which caused market turmoil in 2022.
Liberal Democrat Treasury spokesperson Daisy Cooper said it was “clear Conservatives haven’t learned a thing” and that Mr Griffith’s appointment “shows they’re happy to forfeit any claim to economic credibility in their race to the bottom” with Reform UK.
Treasury minister Emma Reynolds meanwhile said on social media: “The new shadow chancellor backed Liz Truss to be PM and he was a treasury minister during the Tories’ disastrous 2022 mini budget which left families paying the price. Same old Tories, same old economic policies.”
