Rob Goldsmith’s resignation was
announced at the Company's AGM today (13 Sep). Mark Howarth, one of the Non Executive
Director and Chairman Andrew May are jointly going to take executive roles for
the next six months with Mark Howarth as Managing Director.
The announcement comes at a fraught time for the IOSSCO. The Company has been reviled for its pursuit
of Judicial Review of the handling of the Penzance Heliport planning
application by Cornwall Council. The
legal challenge was interpreted by many as a naked attempt to protect the
Company’s effective monopoly on
transport between the mainland and the Isles of Scilly at the expense of
Islanders’ interests. The Company has also struggled with its plan
to replace the Gry Maritha freight vessel with the much larger Mali Rose. The new vessel took longer and cost much more
to fit out than originally expected resulting in Gry Maritha having to continue
in service beyond its planned date. The
delays have reportedly imperilled the planned sale of the Gry.
FRIST Comment.
The IOSSG’s ‘no holds barred’ opposition to the proposed new
helicopter service has deeply alienated islanders, visitors and many in Penzance. With a Penzance Heliport and new helicopter service on the cards in the
future (irrespective of the outcome of the current Judicial Review case) one had
to question the commercial logic of wrecking the Company’s reputation with its
customer base just to delay the start of the new service by 12 months. Many shareholders will have found the Company's very public, beligerant stance against the re-introduction of the helicopter service very difficult to take. We have to wait and see if the ISSCO now abandons its Judical Review claim.
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