The man who oversaw the launch of the Hullo Ferries service between Nanaimo and Vancouver has stepped down.
Former CEO Alistair Caddick left the Vancouver Island Ferry Company on Monday, said Xander Frances, director of marketing and sales.
The company said Caddick stepped down after he had successfully led Hullo Ferries through its “start-up” phase.
Ryan Dermody, who sits on the company board as a non-executive director, has been appointed as interim chief executive officer.
Dermody was previously the president of Norcan, a Montreal-based fuel supplier and has held senior positions at the Port of Montreal and Ressources Québec .
In a company press release announcing the executive changes, executive chairman Rupesh Amin thanked Caddick for his dedication and contributions in guiding the launch and operation of Hullo Ferries.
“Having successfully established reliable daily operations and built a dedicated team, VIFC is eager to take the next step,” Amin said.
Frances said the company’s two investors — majority owner Infrared Capital Partners, a multinational firm with links to Canadian insurance giant Sun Life, and minority owner Conqora Capital Partners, a Toronto-based private-equity firm — have hired a recruitment firm to search for a permanent executive to replace Caddick.
The Nanaimo-based private company has transported over 650,000 on its two Vietnam-built catamarans since August 2023.
Hullo Ferries offers up to 14 sailings a day between downtown Vancouver and Nanaimo, and the company has a 30-year lease with the Nanaimo port.
Last year, 76 company employees voted in favour of unionizing with the B.C. Ferry and Marine Workers Union.
It’s the fifth private-sector company to take a stab at offering ferry services between the two cities.
