CHERYL Roberts was removed as a director of the Falkland Islands fishing company Consolidated Fisheries Ltd following a shareholder resolution at an Extraordinary General Meeting held on February 18, notes a statement to Penguin News from the Fortuna Board.
On February 20 Member of Legislative Assembly Cheryl Roberts released a statement (see page 16 Penguin News this week) saying Fortuna Ltd, as the majority shareholder of CFL, had requisitioned the meeting to remove her from the Board.
She said Fortuna’s reasoning was alleged unmanageable conflicts of interest between her role as MLA and her position as a Director.
She pointed out that previous CFL Directors had remained on the board while serving as elected members, without conflicts of interest arising that warranted their removal.
Following the meeting, CFL Chair James Wallace said on behalf of the Board:
“Further to the Extraordinary General Meeting of Consolidated Fisheries Limited held on 18 February 2026, the board can confirm that shareholders passed a resolution to remove Cheryl Roberts as a director of the Company.
“The resolution was a shareholder decision taken in accordance with the Company’s Articles and applicable legislation.”
In a statement, the Fortuna Board said:“Fortuna Ltd acted in recognition of the conflicts of interest, real and perceived, that exists between the roles of Member of the Legislative Assembly and director of a company with significant commercial dealings with the Falkland Islands Government.
“Fortuna does not consider that this conflict can be effectively managed in the present circumstances. In recent years, other MLAs have stepped back from external roles where conflicts were perceived or identified.
“CFL is a major fishing company with substantial interaction with Government across regulatory, licensing and commercial matters. Clear separation of public office and company governance is therefore important.
“Fortuna remains committed to supporting CFL and SAAS through the operational and commercial challenges ahead.”
