Scottish National Investment Bank CEO resignation: FOI release

Information requested

1. The exact time and date when the Scottish Government were informed of the resignation of the Scottish National Investment Bank’s CEO Eilidh Mactaggart.

2. The reasons that the Scottish Government were told for the resignation of the Scottish National Investment Bank’s CEO Eilidh Mactaggart.

Response

The exact time and date when the Scottish Government were informed of the resignation of the Scottish National Investment Bank’s CEO Eilidh Mactaggart.

The Chair of the Scottish National Investment Bank informed Scottish Government officials that the Chief Executive had offered her resignation in a call starting at 9:30am on Monday 31 January 2022.

The reasons that the Scottish Government were told for the resignation of the Scottish National Investment Bank’s CEO Eilidh Mactaggart.

While our aim is to provide information whenever possible, the Scottish Government is not able to publish the answer to your question as it pertains to personal information in regards to a third party and is therefore covered under section 38(1)(b) of the Freedom of Information (Scotland) Act 2002.

As you may be aware on 4 March 2022, Ms Mactaggart made a statement regarding her resignation. While we are not obliged to supply this information we have reproduced the statement here:

“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.”

About FOI

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