Stuart Falla has resigned after less than a year leading Guernsey's new Development Agency.

The States agreed in April last year to establish the GDA, to oversee the regeneration of the island's east coast - including the development of St Peter Port and St Sampson’s harbours and the seafront in between.

Mr Falla was appointed Chair in July 2022, based on his industry knowledge, but today (2 May 2023) not even a year later, he has tendered his resignation from his roles as both a non-political member of STSB and Chair of the Development Agency.

In his letter, he says the recent demise of parts of the Garenne Group - which he helped build - has affected him greatly:

"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.

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. 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."

President of the Policy & Resources Committee Peter Ferbrache says he is sorry to see him go:

“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."