Scottish Government-owned shipyard Ferguson Marine appoints new boss

Troubled shipyard company Ferguson Marine has appointed a new chief executive officer.

David Tydeman will take the helm at Ferguson Marine on 1 February 2022 with the aim of taking the business to "sustainable growth".

Ferguson Marine, who were tasked with delivering two ferries that are currently four years behind schedule, made a £100m loss in the months after it came under the ownership of the Scottish Government

With a career spanning over four decades, Tydeman has experience in shipbuilding with his background including roles at Occidental; the American Bureau of Shipping; and Vickers Marine (now Rolls-Royce Marine) as director of global technical support and services for around 20,000 vessels.

Ferguson Marine (Port Glasgow) has appointed a new chief executive officer to lead the business to sustainable growth. David Tydeman will take the helm at Ferguson Marine on 1 February 2022.

His last role was providing consultancy for luxury yacht construction.

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He started his career as a Lloyds Register surveyor at a Govan shipyard after graduating as a naval architect at Southampton University in 1976.

From 2000, Mr Tydeman secured a series of strategic leadership and executive management roles, including vice president at Cap Gemini, working on Network Rail’s acquisition of Railtrack; chief operating officer at AWG plc, leading on the sale of Morrison plc businesses; and CEO (building division) at Skanska, where he managed complex PFI contracts for schools and hospitals.

Between 2008 and 2018, Mr Tydeman was group chief executive at Oyster Yachts, a British designer and builder of luxury yachts.

The new head was appointed at Ferguson Marine following an extensive recruitment process, which involved an international search for candidates.

Alistair Mackenzie, Chairman of the Board at Ferguson Marine 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.

“He has a unique blend of shipbuilding, capital project and business change knowledge and experience at an executive level, which we believe is vital to securing a sustainable future for the shipyard. He also brings strong leadership skills and a proven track record of managing complex situations.

“The Board and wider team at Ferguson Marine extend our thanks to Tim Hair for his leadership, expertise and commitment over the past two years. It has been challenging, not least because of a global pandemic, but he has implemented a series of important changes, systems and controls and built an experienced and skilled team to strengthen the business and establish a solid footing for growth.

“A new CEO for the business is a positive and confident step towards a successful future, and we look forward to working with David to further rebuild the shipyard.”

Economy Secretary Kate Forbes said: “Appointing a permanent CEO is an important milestone for Ferguson Marine and reflects the progress made since the Scottish Government stepped in to save the yard and the jobs. David Tydeman brings four decades of industry experience and senior leadership to Fergusons and will be key to securing our long-term ambitions for the yard.

“I want to thank Tim Hair who, alongside his team, has worked tirelessly to turn Fergusons around by ensuring the yard is fit for purpose, is working to complete the vessels and will win future contracts.

“Tim Hair and his team have helped set Fergusons on that long-term path towards securing a sustainable future.”