James Fulford to leave Red Funnel

02-11-2012 Change of CEO at Red Funnel

Red Funnel announces that, after four very successful years as Chief Executive of Red Funnel, James Fulford has decided to leave the Group to pursue opportunities elsewhere.

James has made an outstanding contribution to the development of Red Funnel in the time that he has been with us.  His relentless focus on improving the customers’ experience has meant that, in spite of some of the toughest economic conditions in anyone’s memory, the business has thrived and grown under his leadership.  Throughout his time as Chief Executive, he has lived on the Island and has participated fully in the Island’s business life both as member of the Board of the Chamber of Commerce and also latterly as Chairman of Cowes Harbour Commissioners Advisory Committee.  We expect that his successor will play an equally constructive role in the community whose fortunes are so closely tied to those of Red Funnel.

James leaves the business very well placed to face the challenges that lie ahead.  His departure does not signal any change in strategy on the part of Red Funnel’s owner, Infracapital.  Red Funnel’s commitment to meeting the needs of its current and future customers and serving the wider Isle of Wight economy as a whole will remain unaltered.   Paul Winter, currently Group Chief Financial Officer has been appointed interim Chief Executive while the company completes its search for a new Chief Executive.  James Fulford will remain on the Board of the company until the end of the year.

James Fulford said “My time at Red Funnel has been amongst the most enjoyable of my working life.  We have worked hard to engage with and meet the needs of our customers and, although there is much work left for my successors, I can look back on the last four years with some sense of achievement.  Red Funnel is in good heart and I wish it every success for the future.”

James Cooper, Chairman of Red Funnel said “We will miss James’s enthusiasm, passion and drive but we look forward with confidence to the next phase in the business’s development under a new leader with a fresh perspective on how we will achieve our long term ambitions for Red Funnel.”

Issued 1300 hrs
2 November 2012