Tycoon quit safety firm 'after raising concerns'

SCOTTISH oil tycoon Calum Melville yesterday claimed he quit as a director of one of Britain's leading maritime safety companies to "protect" his reputation after raising concerns about the way the firm was run.

On Monday, Mr Melville, who is also a director of Dundee FC, was suspended from his executive post as head of the offshore division of Grimsby-based Cosalt while the company carried out an internal review of the group's businesses in Aberdeen. His brother Stuart, who is the operations director of the offshore unit, has also been suspended. Mr Melville resigned with immediate effect as a director of Cosalt on Monday.

Cosalt has refused to outline the reasons behind the company's decision to order a review of the operating practices at the offshore division in Aberdeen but the company has stressed that the police are not involved in the inquiry.

Mr Melville released a brief statement yesterday. He said: "Having raised several serious concerns about the running of the business with the chief executive officer recently, I was totally shocked that their response was to suspend me on wholly unfounded allegations.

"My brother and I have remained committed to the company and have at all times acted in the best interests of the business. Regrettably, I have now lost all confidence in the board and have no alternative but to resign to protect my reputation and professional integrity."

A Cosalt spokesman said: "Cosalt's offshore day to day operations are not affected in any way and the group is continuing to work with customers as normal."