CaRT Finance Director to go

THE future of one of the Canal & River Trust's (CaRT) ‘Fat Cats' is in doubt following a decision to recruit a new Finance Director, writes Allan Richards.

CaRT is expected to place advertisements in leading newspapers this weekend for an executive director on a salary of around £150,000 plus benefits to replace its current Finance Director, Philip Ridal.

Philip Ridal

Finance Director Philip Ridal was employed by British Waterways and appeared on a BBC 2010 Quango list of directors as earning between £185,000 and £189,999. However this was an underestimate as British Waterways' annual report of of 2010/11 gave his salary as being higher at £197,058 with the following annual report showing it higher still at £199,086 (excluding pension benefits).

His current remuneration package is unknown with the Trust still unwilling to provide full details. However, it is believed to be significantly higher than his replacement.

BWML

One reason for Mr Ridal's departure is the failure of marina subsidiary, British Waterways Marinas Ltd (BWML), to produce profits in line with his plan despite heavy investment. However, as with CaRT's Legal Director, Nigel Johnson, we will no doubt be told that he has decided to retire.

Dean Davis

CaRT will also be recruiting a new Head of Customer Services to replace Dean Davis who was appointed to the post on a temporary basis. It is not known if Mr Davis will be allowed to apply for the position or if he will return to his former role as West Midlands Waterways Manager.