CFO Arun Raman Resigns from Harland & Wolff

Arun Raman, the chief financial officer of Harland & Wolff, has resigned, marking the latest departure in a turbulent year for the company, which is known for building the Titanic. His exit follows that of chief executive John Wood and several non-executive directors amid significant financial struggles, including the inability to finalize its 2023 accounts due to a lack of UK government loan guarantees. The company suspended trading of its shares in July after missing a deadline for publishing audited accounts and has since secured a $25 million loan from a US lender to aid stabilization efforts. A strategic review led by interim CEO Mr. Downs is underway, with Rothschild Bank's assistance, potentially leading to the sale of the company. Harland & Wolff has reported losses totaling £113 million over the last two years, exacerbated by upfront costs related to expansion and fulfilling orders. The firm, employing approximately 1,500 people, is now focused on preserving its core operations while navigating these challenges.