THE former chief executive of the Scottish National Investment Bank has put out a statement explaining why she abruptly quit the position.
Throughout the week, Finance Secretary Kate Forbes and First Minister Nicola Sturgeon faced questions around why Eilidh Mactaggart had quit the role.
During First Minister’s Questions, Scottish Tory chief Douglas Ross (below) claimed the timing of the resignation was “suspicious” given the announcement of the National Strategy for Economy Transformation on Tuesday.
But Sturgeon refused to address the reasons for Mactaggart’s resignation, which comes 18 months after her appointment, citing her right to privacy.
The First Minister told Ross: “Everyone across the chamber will understand that I’m not going to go into the confidential details of anybody’s employment situation here in the chamber.
“This issue is not a matter for Scottish Government ministers, it’s a matter for the board of the Scottish National Investment Bank – ministers had no input into that, although we were told earlier in February that the chief executive would be leaving the bank imminently.”
And after First Minister’s Questions, Liberal Democrat MSP Willie Rennie said that if Mactaggart is leaving due to personal reasons, MSPs should be told so.
READ MORE: Kate Forbes won't say why Scottish National Investment Bank boss Eilidh Mactaggart quit
On Friday afternoon, Mactaggart released a statement saying her departure was linked to “personal reasons”.
She described her time at SNIB as a “privilege” and said she was looking forward to spending time with her young family.
The Scottish National Investment Bank was launched by Nicola Sturgeon in January 2020
The statement read: “My decision to resign from my position as chief executive of the Scottish National Investment Bank was a difficult decision to make, but ultimately it was made for personal reasons.
“I am extremely proud of everything I achieved while I was the bank’s chief executive, including: launching a bank in the midst of a global pandemic while working remotely; setting its investment strategy; and, establishing its investment portfolio.
“I am of course, most proud of the incredible team of talented individuals that the Bank now has in place, all bound by a common purpose to deliver investment to businesses and projects connected to Scotland to support the Bank’s missions.
“It was a privilege to be given the challenge of launching the Scottish National Investment Bank and being its inaugural chief executive and I wish the team I have built all the best for the future. I am considering a number of opportunities and looking forward to spending some more time with my young family in the meantime.”
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On Thursday, Ross sought to draw links between the chief executive resigning and SNP policy, noting her departure came “just days before the SNP launched their own economic strategy – a strategy that is wafer thin, underwhelming and watered down by the Greens”.
The strategy, at the launch of which the Finance Secretary pledged Scotland would be “radical and bold”, received a mixed response when it was published on Tuesday.
Several business groups, including the Scottish Retail Consortium and the Scottish Chambers of Commerce, welcomed it, while businessman Sir Tom Hunter called for the plan to be more business-led and STUC general secretary Roz Foyer – who was a member of the group which advised government on the plan – said it was a “missed opportunity”.
READ MORE: These are the three main aims of the Scottish National Investment Bank
The First Minister told the Scottish Tory chief: “Yes, it is a coincidence and that is clear.
“On the issue of the former chief executive – the former chief executive of the Scottish National Investment Bank is a private individual.
“She has opted to resign her post as chief executive of the bank – she is entitled to the duty of care and the confidentiality that any other individual in her circumstance is entitled to.
“It would be completely wrong – and I think most reasonable people would accept – that it would be completely wrong of me in the chamber of the Scottish Parliament to breach that confidentiality.”
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