MICHELLE Mone OBE has announced that she has retired from public speaking.

The Tory peer and Scottish entrepreneur said she made the decision to focus on her family and new ventures. She revealed the news in a statement to her 112,000 Instagram followers.

The 50-year-old Ultimo founder said: "I’ve spoken at some of the world’s biggest conferences alongside presidents and huge figures like Richard Branson and often get asked when my next speaking appearance will be.

READ MORE: Michelle Mone accused of using Lords email for business interests

"But, I’ve recently decided to step back and retire from public speaking to focus on my family and new ventures."

In her Instagram post, she went on to explain: "It wasn’t a decision I took lightly as sharing my experiences and helping others is something I have always been passionate about.

"I have been truly honoured to spend time with some of my biggest inspirations, help and inspire others, and travel the world. I’ll never forget these amazing experiences - to even think that people want to hear my story is incredible to me. 

"Public speaking still scares me, but I will truly miss the feeling of accomplishment and pride that I felt when I walked on those stages." 

The National understands that Mone is not planning to take a leave of absense or retire from the House of Lords. 

The House of Lords was contacted for comment.