Lord Smith of Kelvin will turn his attention from sport and UK constitutional matters to helping Forth Ports after the company announced his appointment as its new chairman.
The chartered accountant and respected businessman recently chaired the Smith Commission cross-party talks on strengthening the powers of the Scottish Parliament within the UK.
He was also chairman of the organising committee behind the Glasgow 2014 Commonwealth Games.
His new job will him a key role in driving growth at the company which runs the ports at Grangemouth, Leith, Dundee, Methil, Rosyth, Burntisland and Tilbury in London.
Forth Ports’ current chairman, Michael Seymour, is to stand down at the end of the year.
He has been chairman since 2011, following the company’s acquisition by Otter Ports – a subsidiary of Arcus European Infrastructure Fund 1 LP.
Forth Ports chief executive Charles Hammond said the Edinburgh-based firm had “continued to develop and make a significant contribution to the economies of both Scotland and the south-east of England” under Mr Seymour’s stewardship.
On the new chairman, Mr Hammond said: “Lord Smith’s reputation goes before him and we are delighted to have been able to attract a businessman of his stature to join us as chairman.
“I am confident that, under his guidance, Forth Ports will continue to thrive as the company enters the next stage in its development.”
Arcus partner Stuart Gray said: “Michael Seymour has played an important role in helping to grow the Forth Ports business over the last three years and, on behalf of the shareholders, we would like to thank him.
“We look forward to welcoming Lord Smith to the board of Forth Ports and to working with him over the coming years to ensure that the company continues to grow and provide high quality services to its customers.”
Lord Smith is currently chairman of both Perth-based energy supplier SSE and the UK Green Investment Bank.
He is also a non-executive director of Standard Bank Group and has held numerous other directorships at a range of blue chip companies.
Lord Smith said: “I’m delighted to join the team at Forth Ports and looking forward to getting involved in an exciting business with great potential.
“Ports play a strategically vital but unsung role in supporting a strong, successful UK economy, making a huge contribution to our economic success in everything from tourism to energy.”