The Board of Forth Ports Limited announces today the appointment of Lord Smith of Kelvin KT as chairman, succeeding Michael Seymour who will stand down from the role at the end of the year.

Lord Smith is currently chairman of SSE plc and the UK Green Investment Bank and is a non-executive director of Standard Bank Group Limited. He chaired the Organising Committee of the Glasgow 2014 Commonwealth Games and recently chaired the Smith Commission cross-party talks on strengthening the powers of the Scottish Parliament within the UK.

A chartered accountant and respected senior businessman, he has held numerous directorships with a range of blue chip companies and a number of high profile public positions. He will take up his chairmanship of Forth Ports on 1st January 2015.

Michael Seymour has been chairman of Forth Ports since 2011, following the company’s acquisition by Otter Ports Ltd, a subsidiary of Arcus European Infrastructure Fund 1 LP.

Commenting on the chairmanship change, Charles Hammond, Chief Executive Officer of Forth Ports, said:

“I would firstly like to pay tribute to Michael Seymour, under whose stewardship Forth Ports has continued to develop and make a significant contribution to the economies of both Scotland and the South East of England.

“Lord Smith’s reputation goes before him and we are delighted to have been able to attract a businessman of his stature to join us as chairman. I am confident that, under his guidance, Forth Ports will continue to thrive as the company enters the next stage in its development.”

Stuart Gray, Partner at Arcus Infrastructure Partners LLP, said:

“Michael Seymour has played an important role in helping to grow the Forth Ports business over the last three years and, on behalf of the shareholders, we would like to thank him for his contributions and wish him well for the future.

“We look forward to welcoming Lord Smith to the Board of Forth Ports and to working with him over the coming years to ensure that the company continues to grow and provide high quality services to its customers.”

Lord Smith said:

“I’m delighted to join the team at Forth Ports and looking forward to getting involved in an exciting business with great potential.

“Ports play a strategically vital but unsung role in supporting a strong, successful UK economy, making a huge contribution to our economic success in everything from tourism to energy.”