GBPA will need a new Chairman

Freeport, Grand Bahama Island – 10th September 2013 – The Grand Bahama Port Authority Limited (GBPA) and Port Group L

imited (PGL) wish to announce the resignation of Ian Fair as Chairman and Director of both Companies.
Ian Fair was appointed Director of GBPA and PGL in August 2011, and the Boards of Directors appointed him Chairman in April 2012. After serving both Companies for eighteen months, Mr. Fair has resigned effective today.

Ian Fair stated “The reasons for the decision at this particular stage are both personal and professional.  I can no longer continue to devote the time that is needed to discharge my responsibilities.  I have a considerable number of other business commitments, many of which go back over twenty to forty years and I must continue to give them attention.  My family is not able to relocate to Grand Bahama and frankly I miss being away from them so much”.

Sarah St. George, Vice Chairman of The Grand Bahama Port Authority shared “During his tenure as Chairman of the Companies, Mr. Fair brought with him a vast pool of knowledge and experience which has set the path for the Companies to a brighter future. I am now confident that both The Grand Bahama Port Authority and Port Group Limited are now ready to take full advantage of the signs of recovery. We would like to thank Ian for the last eighteen months of dedication and hard work and we wish him well in his future endeavours”.

Sir Jack Hayward, Honorary Chairman of The Grand Bahama Port Authority expressed “Mr. Fair has done a tremendous job in both companies and he leaves us in a stronger position than he found us. Thanks to his corporate governance and business expertise he now departs a Group better prepared to take on the challenges that lie ahead. We thank him for his commitment”.

Both Sir Jack Hayward and Sarah St. George confirmed that there are no immediate plans to replace Ian Fair as Chairman of The Grand Bahama Port Authority Limited and Port Group Limited.

Mr. Fair also serves as Chairman of the Bahamas First Insurance Group and was recently appointed Chairman of Butterfield Trust (Bahamas). He has a number of other board appointments and charitable involvements.  He was the founding Chairman of The Bahamas Financial Services Board (BFSB) and is currently Chairman of The Bahamas International Securities Exchange (BISX).