Secrecy row over why Scottish investment bank boss quit
- Published
Eilidh Mactaggart was chosen as the bank's first chief executive in April 2020
Nicola Sturgeon has been accused of "shutting down scrutiny" after refusing to tell MSPs why the boss of Scotland's national investment bank quit.
Eilidh Mactaggart abruptly left her post at the government-funded bank last week, but did not give further details.
Ministers have repeatedly refused to answer questions on the topic, with Ms Sturgeon citing confidentiality and a duty of care to staff.
She said the bank was "doing incredibly well" and would continue its progress.
Scottish Conservative leader Douglas Ross speculated that Ms McTaggart may have left due to conflicts over the government's new economy strategy, launched days later.
But the first minister said the timing was clearly a coincidence, adding that it would be "completely wrong" of her to give further details.
The Scottish National Investment Bank was launched in November 2020, with the goal of making long-term investments in Scottish firms.
It has so far made 13 investments totalling just under £200m, although the government has committed to putting £2bn of funding into it over the next decade.
Ms Mactaggart was chosen to lead the bank in April 2020, but resigned with immediate effect on 25 February.
Chief financial officer Sarah Roughead will act as chief executive while the board looks for a permanent replacement.
Finance Secretary Kate Forbes refused to answer questions from journalists and MSPs about the move earlier in the week.
And on Thursday, Ms Sturgeon said Ms Mactaggart was "entitled to the duty of care and confidentiality that any other individual in her circumstances would be".
She told MSPs: "This issue is not a matter for Scottish government ministers, it is a matter for the board of the Scottish National Investment Bank.
"Ministers had no input into that, although we were told earlier in February that the chief executive would be leaving imminently.
"What is the responsibility of Scottish ministers to ensure is that the bank is performing well - and the bank is performing exceptionally well."
Mr Ross said given the scale of public money managed by the bank, people were entitled to answers about its leadership.
He said the government's "secrecy and shutting down of scrutiny" was unacceptable, adding that the timing of the resignation was "very suspicious".
He said: "The chief executive of the Scottish National Investment Bank resigns just days before the SNP launch a new economic strategy. A strategy that is wafer thin, underwhelming and watered down by the Greens.
"It sums up a government that is out of ideas and out of any vision for creating Scottish jobs and growing our economy.
"Is it really a coincidence that the chief executive has resigned instead of trying to deliver this new strategy?"
Ms Sturgeon replied: "Yes it's a coincidence, that is clear."
She cited some business groups which backed the economic strategy, and defended the government's record on productivity, youth unemployment and apprenticeships.
She added: "I predict the one thing we will not be seeing any growth in is Scottish Conservative fortunes across the country."
- Published25 February 2022
