New CEO installed at troubled ferry yard
Unfinished ferry and new CEO David Tydeman
Shipping veteran David Tydeman has been handed the job of resolving the ferries debacle at Ferguson Marine.
He will replace Tim Hair, who has led the business since August 2019 and implemented a major transformation programme. There will be a handover in February.
Mr Tydeman’s career spans sectors such as shipbuilding, offshore and the rail industry and he has extensive experience in financial restructuring.
His appointment at the Port Glasgow shipyard will see him return to shipbuilding on the Clyde as he started his career as a Lloyds Register surveyor at a Govan shipyard after graduating as a naval architect at Southampton University in 1976. He also has an MBA from Henley Management College.
For the 10 years to 2018, he was group chief executive at Oyster Yachts, a British designer and builder of luxury yachts. He secured around 150 contracts worth £350 million, steered the company through two periods of private equity ownership, and is credited with building a strong, globally recognised brand.
He then spent 18 months as chairman at Fairline Yachts, a British manufacturer of luxury motor yachts, and fulfilled a remit to appoint a new executive team and put the company on a path to profit. Since then, he has been providing consultancy services for several luxury yacht construction projects.
He was appointed to Ferguson Marine following an extensive recruitment process, which was managed by Odgers Berndtson in partnership with the Ferguson Marine Board and involved an international search for candidates.
Alistair Mackenzie, chairman of the board at Ferguson Marine (Port Glasgow), said: “It is the right time to welcome a permanent and longer-term leader.
“David will be responsible for continuing to roll-out the ongoing turnaround plan, deliver the dual fuel ferries project, win new vessel orders and drive sustainable growth and expansion.