Public appointment: Non-Executive Directors reappointed to the Caledonian Maritime Assets Limited Board

Public appointments news release

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The Minister for Transport, Jenny Gilruth MSP, today announced the reappointment of Paul Croucher and Graeme Wood as Non-Executive Directors of the Board of Caledonian Maritime Assets Limited (CMAL).

Non-Executive Director

Paul Croucher is CEO of the Reliance Bank Limited having held the role for the last five years. The Bank is a unique social impact bank owned by the Salvation Army. He was previously Executive Director for Trade Finance at UK Export Finance which was a Ministerial appointment and member of the senior civil service. This followed a 30 year banking career with Lloyds Bank and the Royal Bank of Scotland. Mr Croucher also served six years as a Board Member of the Isle of Man Steam Packet Company.

Graeme Wood is a qualified Marine Engineer with upwards of 40 years working in marine, oil and gas and energy transition businesses with a focus on vessel management and operation. He has served in a number of executive and non-executive director positions for over 18 years in a number of different organisations. He is a Fellow of the Institute of Directors (IoD), a Chartered Director and an Ambassador for the IoD.


Mr Croucher was reappointed for two years from 1 August 2022 until 31 July 2024 with Mr Wood reappointed for three years from 1 October 2022 until 30 September 2025.

The reappointments are regulated by the Ethical Standards Commissioner.

Remuneration and time commitment

Non-Executive Directors of the CMAL Board receive £332.90 per day for a time commitment of three days per month.

Other ministerial appointments

Mr Croucher and Mr Wood do not hold any other public appointments.

Political activity

All appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity within the last five years (if there is any to be declared) to be made public.

Mr Croucher and Mr Wood have had no political activity within the last five years.


Caledonian Maritime Assets Limited (CMAL) owns ferries, ports and harbours and infrastructure necessary for vital ferry services serving the west coast of Scotland and the Clyde Estuary, and the Northern Isles. They are wholly owned by the Scottish Government with Scottish Ministers the sole shareholders.

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