11 September 2024 , 20:44
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Another board member has resigned from Harland and Wolff, the troubled Belfast shipbuilder.
Arun Raman, the company’s chief financial officer, has tendered his resignation and stepped down from the board with immediate effect.
Last month, the chairman and two non-executive directors also stood down from the board.
The company is being run by its executive chairman Russell Downs who is a restructuring expert.
Loss-making business
Trading in Harland & Wolff shares has been suspended since the start of July after the firm missed a deadline to publish independently audited accounts.
Last month the firm agreed a new $25m (£19.5m) loan with its US lender, which it said would support the "ongoing stabilisation" of the heavily loss-making business.
Harland & Wolff employs about 1,500 people in the UK.
Its main site is in Belfast and it also has yards at Appledore in the west of England, and at Methil and Arnish in Scotland.
Mr Downs has been in charge since the former chief executive John Wood stood down in July.
A strategic review of the company is being led by Mr Downs with the assistance of experts from Rothschild Bank.
That process is likely to lead to the company being sold.