Dr Allinson emphasized the critical role of the Chair and board in steering the company's strategic direction, ensuring reliable lifeline services for the Island, and addressing future challenges and opportunities. "Mr Clague's extensive experience in passenger ferry operations and finance, spanning over 40 years, will greatly benefit the company," he said.

Based in London, Mr Clague is a senior adviser and non-executive director with a strong background in corporate finance, particularly in the shipping and ports sector. A descendant of the Ramsey-based John Clague and Son Limited, he expressed enthusiasm for returning to the Steam Packet Company, where he worked earlier in his career. "The company's acquisition by the Isle of Man Government provides a solid foundation to continue serving the Island, as it has since 1840," he said.

Mr Clague added, "My family's connection to the Island remains strong, and this role offers a perfect opportunity to spend more time here and re-establish a home."

The Treasury, as the sole shareholder, managed the recruitment process for the commercially operated Steam Packet Company, which functions independently from the Government.