This story is reproduced by kind permission of MaltaMedia at http://www.maltamedia.com/maltanews/index.html
Malta Drydocks CEO has contract terminated
The Board of the Malta Drydocks (MDD) Council announced that it
unanimously agreed to terminate the employment of its chief executive
officer for shiprepair, Barry Johnson. His contract was due to
expire in a year’s time but the decision was taken after
the dismal financial results obtained by the ‘yard in the
first months of this year.
Mr Johnson had been recruited following the publication of the Appledore report which had suggested the splitting up of MDD into two separate entities in an effort to turn round the Drydocks’ losses.
The current Government subsidy of about LM11 million (USD24.2 million; Euro27.5 million) annually will end in five years’ time because of European Union (EU) regulations.
Meanwhile, John Cassar White, the MMD Chairman, will be travelling to Libya in a bid to bring more work for the Dyrdocks.
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