He admitted the role of an MP “has just never been for me” and that he would find it “extremely difficult to step back” from being an executive leader.
Before his loss, Mr Street had been mayor of the West Midlands since 2017. Previous to his political career he had a successful time in retail, and was managing director of John Lewis and Partners.
While he admitted in his statement many would assume he was “destined to go back into business”, Mr Street said he felt he still could contribute as a leader in public life.
“I look forward to exploring opportunities to do just that,” he added.
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