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Forth Ports chief to hand over the reins in 2024

[ December 7, 2023   //   ]

Forth Ports’ Group chief executive, Charles Hammond is to step down at the end of June 2024and will be succeeded by current chief operating officer, Stuart Wallace.

They will work closely together over the next six months to ensure a smooth transition prior to Stuart Wallace, who is already a member of the Forth Ports board.

Charles Hammond (pictured, left), who joined Forth Ports in 1989 as company secretary when it was a publicly run ports and river authority, said: “From the significant growth of the business both sides of the border to the challenges of the Covid pandemic and Brexit, I have been fortunate enough to have been supported by the best team in the industry.

“The most consistent feature of my time at Forth Ports has been the stability that we have sought to create and, while I step down at the most exciting of times, I do so with the confidence that I will leave behind a business that is in great hands and very well positioned to continue to flourish.”

Stuart Wallace (pictured, right) joined Forth Ports in 2002, initially as financial controller for its Scottish region, prior to being seconded to the Port of Tilbury to run general port operations and the London Container Terminal. He returned to Scotland in 2013 having been appointed divisional director for the company’s Scottish operations. He was appointed chief operating officer in 2017.

He said: “With the great team that we have built right across the business, I am confident that Forth Ports will continue to thrive. I am immensely grateful to Charles for steering the business into such a strong position and for his mentorship and support for me personally. I look forward to the next chapter in the Forth Ports story with relish.”

Patrick Samson, senior vice president and global head of real assets at PSP Investments, Forth Ports’ principal shareholder, said: “Charles will have been chief executive at Forth Ports for more than 23 years when he steps down and we are grateful for his exceptional leadership and his contributions to the company over the last 12 years of our ownership.

“We are excited to see Stuart succeed Charles as CEO. With his extensive operational experience and strategic mindset, we are confident in Stuart’s ability to lead Forth Ports through the next stage of its growth. We wish Charles all the best in this next phase of his career and look forward to continuing to work with Stuart and the broader management team.”

The company recently set out plans to achieve net zero carbon emissions by 2042 and carbon neutrality by 2032. Forth Ports, which owns the port of Tilbury as well as several major Scottish gateways is also a partner in the Thames Freeport and the Forth Green Freeport, which last month submitted its Outline Business Case to the Scottish and UK Governments as well as a major player in the renewable energy sector.

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