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Daily Record
Daily Record
Politics
Chris McCall

Nicola Sturgeon refuses to say why boss of Scottish National Investment Bank suddenly resigned

Nicola Sturgeon has refused to explain why the boss of the Scottish National Investment Bank suddenly resigned last week.

Eilidh Mactaggart was appointed chief executive of the state-owned financial institution in 2020 on a salary of £235,000 per year.

The bank, which has a budget of £2 billion, is supposed to award public cash to companies which will help meet key Scottish Government targets, such as the transition to Net Zero.

But Mactaggart's resignation was quietly announced on Friday with no details offered on why she chose to walk away from a role she has spent less than two years in.

Douglas Ross today asked the First Minister to provide more details on the resignation.

Sturgeon said: "I am sure everyone will understand that I am not going to go into the confidential details of anybody's employment situation.

"This issue is not a matter for Scottish Government ministers - it is a matter for the board of the Scottish National Investment Bank.

"Ministers had no input into that, although we were told earlier in February the chief executive would be leaving the bank imminently.

"What is the responsibility of ministers to ensure is the bank is performing well - and the bank is performing well."

The Scottish Conservatives leader responded: "The First Minister has used this opportunity to explain how well the bank is doing and the vital work they are undertaking.

"Therefore I think it is important that this parliament knows, and the public in Scotland knows, why the chief executive resigned so abruptly earlier this week."

Ross asked whether the timing of Mactaggart's resignation was linked to the recent publication of the Scottish Government's 10-year economic strategy.

Finance secretary Kate Forbes published the document this week but the plan was immediately disowned by unions.

Ross added: "It sums up a government that is out of ideas and out of any vision for creating Scottish jobs and growing our economy.

"This plan is more of the same and it has even been criticised by business leaders like Tom Hunter."

Sturgeon insisted the timing was a "coincidence".

She added: "The former chief executive of the Scottish National Investment Bank is a private individual. She has opted to resign her post and is entitled to the duty of care that any individual in her circumstances is entitled to."

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