FERGUSON Marine has made the shock announcement that it has terminated the contract of its chief executive David Tydeman.

The yard has today confirmed that experienced shipbuilder John Petticrew will replace the sacked Mr Tydeman as interim CEO. 

Mr Tydeman had been in place as Ferguson Marine's chief executive since February 2022 and was seen by many as a positive influence at the troubled yard. 

Andrew Miller, chair of Ferguson Marine, said: “Ferguson Marine needs strong leadership to ensure its long-term future.

"The board recognised that action needed to be taken to restructure the current leadership team and it has taken these steps to address this.

“Our focus is on the completion of Glen Sannox and hull 802, and the implementation of a robust business plan to improve the commercial viability of Ferguson Marine.

"With this new senior management team in place and a full complement of board members, we have the breadth and depth of experience and capability to drive forward these plans.”

The company has also made several senior appointments as its board moves forward with its plans to 'strengthen the economic sustainability of the yard'.