Prime Minister John Key says Simon Power has done the right thing in standing down as the Minister of State Owned Enterprises as he considers a career in the private sector.
Mr Power is retiring from politics at the election on 26 November but says he has not yet applied for, or been offered, any jobs.
He will remain in the Cabinet as Justice and Commerce minister but has handed the SOEs portfolio to Tony Ryall.
Mr Key says there is a wide range of areas Mr Power could work in and he is not ruling anything out.
The Prime Minister says if Mr Power enters serious discussions that could create a conflict of interest he would exclude himself from any relevant Cabinet considerations.