Mrs May is reportedly in talks to appoint a Tory party donor as the next trade and investment minister. According to Sky News, former Fujitsu executive Simon Blagden has been ear-marked for the leading role in the Department for International Trade. Mr Blagden is also set to land a seat in the House of Lords.
It is understood Mr Bladgen could be appointed within weeks despite the expected overhaul in Whitehall – caused by Mrs May’s resignation.
Meanwhile, if Mr Blandgen lands the role it is thought it will come as a surprise to business leaders, due to the high profile individuals who have previously held the job.
Mr Blangen, who has 25 years business experience, is the non-executive Chairman of Fujitsu.
Previously he has held the position of UK Managing Director at Quante AG as well as Spescom in Johannesburg to head up its international telecoms and IT business.
The role within the Government became available following the departure Rona Fairhead, who stepped down in May.
Baroness Fairhead resigned after 19 months in the job.
The Conservative peer said that she had “achieved what I set out to do” after 19 months in the job.
The former chairwoman of the BBC Trust and chief executive of the Financial Times Group, told The Times she is seeking a role in the private sector.
Ms Fairhead said: What I would love to do would be to aim for a chairmanship of a FTSE and possibly another non-executive directorship, possibly a company outside the UK.
“I was in various conversations before I took the role and that is where I see my future, in the private sector.”
Her stint follows those of Lord Price, 58, former managing director of Waitrose.
As well as Lord Livingston of Parkhead, 54, ex-chief executive of BT, who each spent 17 months in the job.
Mrs May is understood to be still mulling over who should become the next trade minister and is yet to make a final decision.
Meanwhile the timing of any appointment will come to surprise of many given she is expected to officially leave her role on the week commencing July 22.
The race to become the next Tory leading is set to become much clearer tomorrow as MPs take part in the second ballot, where the field will be cut by a least one more candidate.