Western Newfoundland businessman Bill Barry tells CBC News he is considering a run at the Progressive Conservative Party leadership.

Barry is CEO of the Corner Brook-based Barry Group of Companies, one of the dominant players in the provincial fishing industry. He has played a strong and often controversial role in the industry for several decades.

A leadership race will be called to choose a successor to Kathy Dunderdale, who formally resigns Friday as premier and party leader. Dunderdale announced her decision at Confederation Building on Wednesday.

Barry said he has been encouraged to enter the race. He said he is considering it and reflecting on his options.

Finance Minister Tom Marshall is being sworn in as premier on Friday, but he will not be seeking the position on a permanent basis.

The PCs hope to have Dunderdale's permanent replacement in place before schools close in June.