Lord Agnew has left his role as academies minister as part of Boris Johnson's ministerial reshuffle, sources have confirmed this morning.
The former venture capitalist, who founded the Inspiration Trust academy chain, has spent much of his time as a minister attempting to identify efficiencies in school spending and crack down on academy CEO pay.
It has been reported that he will now take on the role of joint minister of state in the Cabinet Office and Treasury.
Reshuffle: Baroness Berridge is new education minister
It was also announced this morning that Baroness Berridge has been appointed parliamentary under secretary of state in the Department for Education.
Lord Agnew departs the DfE
It is not been confirmed whether or not she will take on Lord Agnew's old responsibilities as a schools minister.
Lord Agnew had written to academy trust chairs on a number of occasions, as recently as this week, calling for greater scrutiny of their finances.
He was appointed academies minister in September 2017. Faith schools, independent schools, home education and governance also came under his remit.
He was additionally responsible for college financial oversight, and recently wrote to schools urging them to open their doors to colleges and apprenticeship providers.
He had previously served on the DfE's board under Michael Gove.