The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT - Ian Fair is the new chairman of the board at the Grand Bahama Port Authority (GBPA), it was confirmed yesterday, more than six months after Tribune Business revealed the move was in the offing.

It was also announced that Sarah St George, the daughter of former chairman, the late Edward St George, will assume the position of vice-chairman.

According to a statement released by the GBPA, Mr Fair will guide the strategic direction of the organisation and focus on maximising growth opportunities for Freeport and Grand Bahama.

He will work closely with GBPA president Ian Rolle and the current executive team to develop new strategies for development, and build on already existing initiatives and programmes.

Last September, Mr Fair was appointed as a director of the board. Tribune Business reported at the time that he was being eyed for the chairmanship, and that it was a question of when, not if, the appointment would be announced. It has been widely expected, and was an open secret, for many months in the Freeport business community.

Sir Jack Hayward and the St George family said in a joint statement: "Ian Fair exemplifies the true essence of seasoned leadership. His immense international exposure, and expressed interest in promoting the untapped potential of Grand Bahama to the world, will greatly assist in improving the economic conditions we now face.

"With the great work that the current team at the GBPA has been doing, in spite of the times, coupled with Ian's appointment, we believe that Freeport is on the verge of reaching its true potential."

The Port Authority has been without a chairman since 2010, after former chairman Hannes Babak's work permit was not renewed.

Mr Fair said he was looking forward to working with all stakeholders on the island.

"I am very excited about the opportunity to work with all involved in order to make Freeport and Grand Bahama boom again. It can and should be a significant contributor to the development of the Bahamas.

"We have had a very challenging past few years, due to a world recession, and I want to put this behind us and move on to an exciting future. All stakeholders need to work together with GBPA to make this a reality," he said.

Mr Fair has had a distinguished career of more than 46 years, the last 43 of which have been in the Bahamas in the financial services sector.

"He brings with him a wealth of knowledge in global business, and will play a significant role in further developing and enhancing important partnerships that are critical for the growth and development of Freeport and Grand Bahama Island," the company said.

Mr Fair also serves as chairman of the Bahamas First Insurance Group and is deputy chairman of Butterfield Bank (Bahamas).

He was the founding chairman of the Bahamas Financial Services Board (BFSB), and is currently chairman of the Bahamas Maritime Authority (BMA) and the Bahamas International Securities Exchange (BISX).