The person dubbed “Britain’s most hated boss” for his controversial coverage of sacking tons of of seafarers and changing them with cheaper company employees is to stop.
Sources mentioned he had determined to resign for private causes.
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Mr Hebblethwaite joined the ranks of Britain’s most infamous company figures in 2022 when P&O Ferries – a subsidiary of the enormous Dubai-based ports operator DP World – mentioned it was sacking 800 employees with instant impact – a few of whom discovered their destiny by way of a video message.
The coverage, which Mr Hebblethwaite defended to MPs throughout subsequent choose committee hearings, erupted right into a nationwide scandal, prompting adjustments within the regulation to present staff better safety.
Beneath the brand new laws, the federal government plans to tighten collective redundancy necessities for operators of international vessels.
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Peter Hebblethwaite offers proof to a committee of MPs in 2022. Pic: PA
“P&O Ferries extends its gratitude to Peter Hebblethwaite for his contributions as CEO over the previous 4 years.
“During his tenure the company navigated the challenges of the COVID-19 pandemic, initiated a path towards financial stability, and introduced the world’s first large double-ended hybrid ferries on the Dover-Calais route, thereby enhancing sustainability.
“We prolong our greatest needs to him for his future endeavours.”
A source close to the company said it anticipated making an announcement on Mr Hebblethwaite’s successor in the near term.
A former executive at J Sainsbury, Greene King and Alliance Unichem, Mr Hebblethwaite joined P&O Ferries in 2019, before taking over as chief executive in November 2021.
Insiders claimed on Friday that he had “reworked” the enterprise following the bitter blows dealt to its funds by the COVID-19 pandemic and – to some extent – by the impression of Britain’s exit from the European Union.
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A union protest is proven on the top of the mass sackings row in 2022
P&O Ferries carries 4.5 million passengers yearly on routes between the UK and continental European ports together with Calais and Rotterdam.
It additionally operates a route between Northern Eire and Scotland, and is a significant freight service.
The corporate’s losses soared throughout the pandemic, with DP World – its sole shareholder – supporting it via tons of of thousands and thousands of kilos in loans.
Its most up-to-date accounts, which have been considerably delayed, confirmed a major discount in losses in 2023 to only over £90m.
The discount from the earlier yr’s determine of virtually £250m was partly attributed to price discount workout routines.
The accounts additionally confirmed that Mr Hebblethwaite acquired a pay bundle of £683,000, together with a bonus of £183,000.
“I reflected on accepting that payment, but ultimately I did decide to accept it,” he advised MPs.
“I do recognise it is not a decision that everybody would have made.”
The row over his pay was particularly acute due to his admission that P&O Ferries’ lowest-paid seafarers acquired hourly pay of simply £4.87.
Mr Hebblethwaite had argued for the reason that mass sackings of 2022 that the corporate would have gone bust with out the drastic cost-cutting that it entailed.
The corporate insisted on the time that these affected by the redundancies had been provided “enhanced” packages to depart.
Final October, the then transport secretary, Louise Haigh, mentioned: “The mass sacking by P&O Ferries was a national scandal which can never be allowed to happen again,” including that measures to guard seafarers from “rogue employers” would forestall a repetition.
“This issue has been ignored for over 2 years, but this new government is moving fast and bringing forward measures within 100 days,” Ms Haigh added.
“We are closing the legal loophole that P&O Ferries exploited when they sacked almost 800 dedicated seafarers and replaced them with low-paid agency workers and we are requiring operators to pay the equivalent of National Minimum Wage in UK waters.
“Make no mistake – that is good for staff and good for enterprise.”
The minister’s description of P&O Ferries as “rogue”, and suggestion that customers ought to boycott the corporate, sparked a row which threatened to overshadow the federal government’s Worldwide Funding Summit final October.
The corporate relented after Sir Keir Starmer publicly distanced the federal government from Ms Haigh’s characterisation of DP World.
