Michelle Mone quits board of lingerie firm she founded
Scottish entrepreneur Michelle Mone has resigned from the board of the firm she founded that made her a multi-millionaire and shot her to national prominence.
Bra, lingerie and swimwear firm Ultimo revealed that Mone had left its board and the board of parent group MJM International earlier this month.
The 43-year-old, who grew up in the tough east end of Glasgow, was appointed by the Department for Work and Pensions to carry out a review of support available for people from less advantaged areas to start up their own businesses earlier this month.
It was also reported this month that Mone is being lined up to be a Conservative member of the House of Lords.
The lingerie firm said: "As such, Michelle will spend most of her time on these new projects and commitments, leaving limited time for her engagements with Ultimo.
"Ultimo wishes Michelle every success in her new personal projects and public engagements, and thanks her for contributions in the past and for her future support of Ultimo's growth."
Mone, who is reportedly worth £20m, co-founded Ultimo's "cleavage-enhancing" bras in 1996 with her then husband Michael.
The bras have often been promoted by celebrities, most famously by actress Julia Roberts who wore the firm's Miracle Solutions Plunge Bra for her role in Erin Brockovich.
Following a protracted divorce, her husband left the company in 2013, and a year later Mone sold 80% of the business to Sri Lanka-based lingerie group MAS Holdings.