Chief financial officer becomes latest to jump ship at troubled Northern Ireland shipyard
Harland & Wolff’s CFO Arun Raman has tendered his resignation and steps down from the board with immediate effect
The chief financial officer of Northern Ireland shipbuilder Harland & Wolff has tendered his resignation and stepped down from the board with immediate effect.
Arun Raman, an accountant who trained with PricewaterhouseCoopers and Citibank N.A. in India, has been in the post since 2019.
His resignation is the latest departure from the firm's board and follows the recent standing down of non executives Malcolm Groat, Sir Jonathon Band and Katya Zotova.
Harland & Wolff's former chief executive John Wood stepped down in July.
Harland & Wolff has been rocked by a series of challenges this year. The company, which built the Titanic more than a century ago, had warned in August that it would not be able to finalise its financials for 2023 on a going concern basis and had suspended work to complete its accounts as it sought options to stay afloat.
In recent months, Harland & Wolff has also been hit by the loss of a UK government loan and a lucrative contract.
At present resources are being focused on a process with financial adviser Rothschild & Co to identify a route forward that will maximise value for stakeholders and seek to preserve Harland & Wolff's core operations at its delivery centres in Belfast, Appledore, Methil and Arnish.