Forth Green Freeport appoints Susan Rice chair

Susan Rice

Forth Green Freeport said it has appointed former banker Susan Rice as its inaugural independent chair to oversee the delivery and governance of the consortium’s vision “to deliver a green growth strategy for Scotland’s industrial corridor.”

Rice is the former chair and CEO of Lloyds TSB Scotland, where she was the first female in Europe to lead a clearing bank, and managing director of Lloyds Banking Group Scotland.

She was also the founding chair of the Scottish Fiscal Commission and is the former president of the Scottish Council for Development and Industry (now named Prosper).

“Dame Susan has extensive experience in corporate governance as a member of boards across a wide range of public and private sector organisations around the UK and internationally,” said Forth Green Freeport.

“Dame Susan is currently the chair of Scottish Water where she has governed the board since 2015 and will step down at the end of this year on completion of her term.

“Her other recent board experience includes the Bank of England, Scottish and Southern Energy and J Sainsbury plc.

“Dame Susan currently sits on the board of the Office for Budget Responsibility and chairs the North American Income Trust and the Global Ethical Finance Initiative, which is currently delivering the largest finance-focused campaign for COP28.”

Beginning her role as chair in November, Rice takes over from interim chair Charles Hammond, the group CEO of Forth Ports.

Rice said: “The Forth Green Freeport has a broad and exciting vision for Scotland and I’m pleased to be leading the team in its execution.

“The creation of major port infrastructure, the development of new green industries and re-industrialisation of our communities is hugely compelling to me.

“I’m honoured to have been appointed as the chair and I welcome the opportunity to steer this impressive consortium as we create and implement the Forth Green Freeport.

“As an experienced adviser in delivering long-term economic development projects, I will support the Forth Green Freeport to deliver the community regeneration and many new jobs across Fife, Falkirk, Leith and Central Scotland.

“I’m delighted to be part of this.”

Hammond said: “We are extremely privileged to have someone with Dame Susan’s extensive experience and enthusiasm to chair the ambitious opportunity that the Forth Green Freeport can deliver for Scotland.

“The decision to appoint Dame Susan was unanimously agreed by all of the consortium partners, both public and private sector, and we warmly welcome her to the board.

“Dame Susan’s career background is aligned perfectly as the consortium works together to create the driving force to deliver long term benefits for communities through well paid skilled green job creation and to assist in achieving the country’s net zero goals.”

Forth Green Freeport was shortlisted earlier this year with its bid “which will re-industrialise the nation and create large scale economic development.”

The consortium is currently preparing its outline business case which will be submitted to the Scottish and UK Governments shortly.