Forth Ports group CEO Charles Hammond to step down next June

The UK’s longest serving port boss, Forth Ports’ group chief executive, Charles Hammond (above, left), has decided to step down from his role at the end of next June.

His successor has been named as Forth Ports’ chief operating officer, Stuart Wallace (above, right).

62-year-old Mr Hammond joined Forth Ports when it was a publicly run port and river authority in 1989, as company secretary.

He was appointed CEO in 2001 and has overseen Forth Ports’ expansion to a point where the company now owns and operates eight commercial ports, including Tilbury on the Thames, six on the Firth of Forth and Dundee on the Firth of Tay.

He also oversaw the company’s move from a publicly listed PLC to private ownership in 2011.

“It has been the privilege of my career to lead Forth Ports. 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,” said Mr Hammond.

“The most consistent feature of my time has been the stability 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,” he added.

He is expected to work closely with Mr Wallace over the next six months to ensure a smooth transition. Mr Wallace, already a member of the Forth Ports board, will take up his appointment on 1 July 2024.

“Charles will have been CEO at Forth Ports for more than 23 years and we are grateful for his exceptional leadership and his contributions to the company over the last 12 years of our ownership,” said Patrick Samson, global head of real assets investments at PSP Investments, Forth Ports’ principal shareholder.

“We are excited to see Stuart succeed Charles as CEO. With his extensive operational experience and strategic mindset, we are confident in his 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,” he added.

“I am proud and honoured to have been asked to lead this fantastic organisation as we face the challenges and opportunities of a just transition to net zero and the significant expansion of Scotland’s renewable energy sector,” Mr Wallace said.

“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,” he added.