Non-executive director John Petticrew is taking over as interim chief executive.
Publicly-owned Scottish ship builder Ferguson Marine’ Chief executive David Tydeman’s contract has been terminated as the board attempt to ensure the company’s “long-term future”.
The cost of two ferries being built at the state-owned shipyard, the “Glen Sannox” and “Glen Rosa”, is running at nearly four times the initial £97m cost. They will also be delivered six years late.
The exact reasons for his departure have not been revealed.
It comes as the Scottish government said there would “likely” be further delays to the delivery of Glen Sannox, which was due in May.
Tydeman joined the Port Glasgow shipyard in 2022, having previously run a yacht-building company
The sacking follows news in February that the cost to complete the Glen Sannox will rise to between £145.5m and £149.1m, while the Glen Rosa will be delivered “no later than” September 2025.
Board chairman Andrew Miller said: “Ferguson Marine needs strong leadership to ensure its long-term future. The board recognised that action needed to be taken to restructure the current leadership team and it has taken these steps to address this.
“Our focus is on the completion of Glen Sannox and hull 802 (Glen Rosa), and the implementation of a robust business plan to improve the commercial viability of Ferguson Marine.
“With this new senior management team in place and a full complement of board members, we have the breadth and depth of experience and capability to drive forward these plans.”
In 2019 Ferguson Marine’s losses were laid bare when it posted losses of GBP 60 million, forcing the Scottish government to take it into public ownership.
They were given a reprieve after they secured two new contracts to build ‘Aquaculture Support Vessels’ for their client, Inverlussa Marine Services, to be used on a long-term charter for one of Scotland’s leading salmon farmers.
In 2021, the yard launched the “Kallista Helen” for Inverlussa, the first vessel of its type to be designed and built in Scotland around a ‘thermolicer’ system.
Established in 1903, Ferguson operates the last remaining shipyard on the lower Clyde in Scotland. Specializing in Roll-on/roll-off ferries, particularly for Caledonian MacBrayne (CalMac), it gained recognition for its innovative hybrid diesel-electric/battery-powered vessels.
