Press Release
“Widely respected” Head of Finance to retire early
Head of Finance Services, Graham Johnston has been granted early retirement by the Council and will complete his last day with the Council on 31 March.
Council Convener Sandy Cluness said this morning, “Graham has been a very widely respected finance chief. Over the years Councillors acknowledged his professionalism and were very grateful for his ability to put technical financial information into a format that was easy to understand. The thing that struck me about him was his clear desire to always do his best for the good of Shetland.”
Council Chief Executive Alistair Buchan also paid tribute to Mr Johnston. “Graham has had a distinguished career with the Shetland Islands Council over nearly 30 years. He’s a very good example of the Council being able to grow its own – starting out as a trainee Accountant in 1981 and working his way up to become Head of Finance in May 2000. The Council and communities of Shetland undoubtedly owe Graham a debt of gratitude for his dedication and hard work in pursuit of financial sustainability for this Council. I’d like to take this opportunity to wish him all the very best with his future plans”.
During his time as Head of Finance, the Council experienced the post-9/11 market crash, which wiped millions of pounds off the value of the Council’s reserves. After recovering their value during the mid-2000s, he oversaw the Council’s response to the recent banking crisis, which again reduced the value of reserves. His much publicised “steady as she goes” approach, advising Councillors to weather the storm and not realise losses by panic selling of shares, served the Council well as the value of investments once again recovered. He was also one a key member of the negotiating team that reached agreement recently with TOTAL to site their gas processing plant adjacent to the Sullom Voe Oil Terminal.
Reflecting on his career, Mr Johnston said, ”I’ve appreciated the opportunity to work in the Council’s Finance service for almost 30 years. It has often been challenging but also rewarding. I’ve worked with some excellent colleagues and have had the chance to contribute to some important deals with, for example, the oil and gas industry, as well as contributing to the long term planning and management of the Shetland community reserves.
“The Council has gone through a time of turbulence, and now needs to make substantial changes to face future challenges. I felt the time was right for me to move on and let others address those long-term issues, and I’m pleased that the Council have agreed to my request for early retirement. I look forward to pursuing my personal interests and fresh challenges. I will always wish the Shetland Islands Council well in its mission to look after the future interests of Shetland as a whole”.