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Stuart Falla CBE has confirmed his resignation as a non-political member of the States Trading Supervisory Board and as Chair of the Development Agency blaming the collapse of the Garenne Group and R.G. Falla Ltd for his decision.
He submitted his resignation from both roles - seen as vitally important components of the island's economy - following the recent "turmoil" he has experienced as a result of his family's former businesses folding.
Mr Falla said that he and his family have been emotionally affected by the ongoing situation regarding the Garenne Group, and Hurel Ltd (formerly R.G. Falla Ltd).
Pictured: He was no longer involved in the company, but Stuart Falla CBE is forever linked with his former family firm.
“The past few months have been a period of some emotional turmoil for me and my family as a result of the demise of the group that I helped to create. Even though I stepped down from being a director seven years ago, seeing the group fall apart as a result of COVID-related inflation has been like losing a close family member," said Mr Falla.
"I have therefore been taking stock recently of whether the time is right for me personally to fully commit myself over the next three years to the very big undertaking that is the establishment of the Development Agency. I still believe it is essential to have such an independent body if Guernsey is going to be serious about maintaining a strong economy for the coming generations. Now is an opportunity for new, fresh talent to take this project forward and build it into something truly game-changing."
A spokesperson for the States has said that details on the process for appointing new people to the two roles currently held by Mr Falla will be issued in due course.
With his extensive background in the construction sector as well as his involvement in charitable and community based organisations and events, Mr Falla was seen by many as the ideal candidate for both of the positions which he has now given up.
"I have very much enjoyed my work with STSB and with the Development Agency and I wish those who will take our work forward all the very best, as Guernsey is counting on them,” said Mr Falla.
Pictured: Concerns raised about Mr Falla's involvement with the Development Agency were waved by his political colleagues.
Today, Deputy Peter Ferbrache, President of the Policy & Resources Committee said that Mr Falla's "deep passion for Guernsey" and his "insight and intelligence" were "invaluable".
“I would like to thank Stuart for the invaluable experience he has brought to his roles with the States," he said. "We have been very fortunate to have someone with his exceptional experience and proven track record working with us for the benefit of the community.
"He has a deep passion for Guernsey and has helped to drive forward the new Development Agency. And I fully share his conviction that it is an essential body for the future of the Island’s economy, and we must now look at how best we can get it fully up and running.
"We have been very fortunate indeed to have had the benefit of Stuart’s insight and intelligence for so many years. Guernsey is also very fortunate to have benefitted from his contributions.”
Pictured: Deputies Peter Ferbrache and Peter Roffey.
Deputy Peter Roffey has worked closely with former-Deputy Mr Falla through his role as President of the States’ Trading Supervisory Board. Deputy Roffey said he was "very sorry to learn of Stuart’s decision".
"His contribution to the States’ Trading Supervisory Board has been quite exceptional and he has played a big part in developing the STSB since its inception. I’d particularly like to thank him for the work he has done as Chair of both Guernsey Ports and Guernsey Dairy, and in supporting the shareholder function of STSB.
"It’s been a pleasure to work alongside Stuart and to see him apply his immense experience, energy and knowledge to the benefit of the people of Guernsey.”
Pictured: The STSB including Stuart Falla CBE and Deputy Peter Roffey answering questions posed by the Scrutiny Management Committee last September.
Mr Falla's background in business stretches back decades.
He took on the management of the family business - R. G. Falla Ltd - following in his father's footsteps. The firm was responsible for some of the most prominent buildings in the island including the Royal Court, the Grammar School and office and residential developments.
Mr Falla also expanded the business by launching the Garenne Group which has been involved with many other local firms at various times. Its collapse into voluntary liquidation led to the closure of Rabeys Commercial Vehicles too, while AFM, Granite Le Pelley and Geomarine were saved through management buy outs.
Questions remain over the finances of R.G. Falla Ltd, which was renamed Hurel Ltd shortly before the liquidators were called in. New businesses have been set up with very similar names but they are said to be totally independent of Hurel Ltd (formerly R.G. Falla Ltd).
Prior the situation concerning the Garenne Group occurring, or becoming public knowledge, questions were already asked about the appointment of the former-Deputy to the States' Development Agency.
While the President of P&R defended his appointment, saying he was "an able person" others felt that paying Mr Falla £25,000 a year created a conflict of interest with his existing role as a voting member of STS Board, which is responsible for the island's harbours as well as the States' commercialised businesses.
Deputies Neil Inder and Andrew Taylor were most vocal in raising their concerns.
Pictured: Mr Falla's work has extended beyond his businesses with various community and charitable commitments over many years.
As well as his business interests, Mr Falla has contributed to island life in many other ways.
He was involved with the planning of the 2003 Island Games in Guernsey, which included the building of the Garenne Stand at Footes Lane. He was involved with the Sports Commission and the Health Improvement Commission as well as the Guernsey Community Foundation.
His charitable and community endeavours also saw him linked to the redeveloped of La Vallette which he personally was said to have supported.
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