New boss for ferry owner

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New boss for ferry owner 10/3/14

Caledonian Maritime Assets Ltd (CMAL) - the company which owns the ferries operated by Cal Mac - has appointed a new chief executive.

Tom Docherty, the former boss at Isle of Wight ferry operator, Red Funnel, will take over from Guy Platten in April.

Mr Docherty, a marine engineer, has held a number of senior management positions within the maritime industry.

The Glaswegian saw a multi-million pound windfall out of the sale of Red Funnel to Infracapital, an offshoot company of the Prudential. The shipping firm’s management sold it for an estimated £200 million in 2007, double its value when bought from a private equity company some three years earlier.

Mr Docherty is said to have held a 15% stake.

His career has been largely spent in the south of England, working in ferries, towage and salvage vessels and the ports industry.

He previously had senior roles in the oil industry, including manager of the marine terminal at Fawley, Esso’s largest marine terminal in Europe.

During his time at Red Funnel, passengers set up a fair fares campaign group claiming ticket prices soar by up to nearly three times the rate of inflation.