Hebblethwaite, the disputed head of P&O Ferries, announces his resignation.
In a series of events that have rocked the maritime industry, Peter Hebblethwaite, the CEO of P&O Ferries, has announced his resignation, effective immediately. His departure comes amidst a national scandal, prompted by the company's controversial decision to sack 800 staff with immediate effect earlier this year.
The sacking of staff and the subsequent replacement with cheaper agency workers has been a subject of intense debate. Under Hebblethwaite's tenure, the policy was defended, sparking changes in the law to give workers greater protection.
Hebblethwaite joined P&O Ferries in 2019 and became the CEO in November 2021. During his tenure, the company navigated the challenges of the COVID-19 pandemic, initiated a path towards financial stability, and introduced the world's first large double-ended hybrid ferries on the Dover-Calais route.
However, the reduction in losses, as shown in the most recent accounts, came at a cost. The company's losses soared during the pandemic, with DP World - its sole shareholder - supporting it through hundreds of millions of pounds in loans.
The minister's description of P&O Ferries as "rogue" and suggestion that consumers should boycott the company sparked a row. The row over Hebblethwaite's pay was especially acute because of his admission that P&O Ferries' lowest-paid seafarers received hourly pay of just £4.87. This revelation led to a policy of tightening collective redundancy requirements for operators of foreign vessels under the new legislation.
DP World, the company's shareholder, withdrew from participating in the government's International Investment Summit, and paused a £1bn investment announcement, due to the characterization of P&O Ferries by the minister.
The company operates a route between Northern Ireland and Scotland, and is a major freight carrier. It carries 4.5 million passengers annually on routes between the UK and continental European ports including Calais and Rotterdam.
As of now, there is no publicly available information about who has replaced or will replace Peter Hebblethwaite at P&O Ferries. The minister's call for a boycott of the company still stands, as the then transport secretary, Louise Haigh, described P&O Ferries as a "national scandal" last October.
The resignation of Hebblethwaite is due to personal reasons, and a successor for him is anticipated to be announced in the near term. The reduction from the previous year's figure of almost £250m was partly attributed to cost reduction exercises. The company's new leadership will have a challenging task ahead, as they strive to rebuild trust and navigate the complexities of the maritime industry.
