NETWORK RAIL BEGINS SEARCH FOR NEW CHAIRMAN

Friday 3 Oct 2008

NETWORK RAIL BEGINS SEARCH FOR NEW CHAIRMAN

Region & Route:: National

Network Rail today begins the search for a new chairman as Sir Ian McAllister confirmed his intention to step down from the Board following the company's AGM in July 2009.

Speaking on the sixth anniversary of Network Rail taking charge of Britain's rail infrastructure, Sir Ian McAllister, chairman, said: "Network Rail has delivered substantial improvements in the safety, reliability and efficiency of the railway over the past six years.

"Safety is at record levels, train punctuality is now above 90%, and we are on track to reduce costs by around 30% by the next AGM. I have led the Board for over six years now and a great deal has been achieved in that time.

"As the company enters a new phase in its development, it is entirely appropriate that a new chairman helps take the company forward. The next challenge is for Network Rail to help deliver an expanded and enhanced railway to meet the growing demand from passengers and freight customers. My role now will be to help find a replacement and see through a smooth transition."

Sir Ian was instrumental in setting up the Network Rail bid team in November 2001 and played a key role in taking Railtrack out of administration in October 2002. Sir Ian, 65, will stay with the company until a successor is found and a smooth handover completed.

In addition, Ron Henderson, group finance director, has announced his intention to retire.

Mr Henderson has been with the company since October 2002 and has led a very successful finance and funding team that played a pivotal role in taking Railtrack out of administration and securing the funds to reverse decades of underinvestment in Britain's rail system. Ron will stay with the company for the next few months to ensure a smooth hand-over to his replacement, who will be announced shortly.

Commenting on these changes, Iain Coucher, chief executive, said: "Ian and Ron have been outstanding members of the leadership team. Ian has been part of Network Rail from its inception, and has led the company from the substantial problems it inherited, to become a successful company, with both train punctuality and safety at record levels. His contribution has been enormous.

"The Board of Network Rail and I extend our sincere gratitude to both Ian and Ron for their outstanding contributions."

Two weeks ago the company announced the strengthening of it Board with the appointment of three new executive directors:

Director, operations and customer service - Robin Gisby
Director, infrastructure investment - Simon Kirby
Director, planning and regulation - Paul Plummer

Sir Ian concluded: "The last six years have been a period of tremendous change. Delivering a safer and better railway for passengers and freight users has been central to everything we have sought to achieve. Much has been done, and significant improvements made, but my successor will still have much left to achieve as Network Rail seeks to address the future challenges facing the railway."

Notes to editors

Today's railway looks very different from the one inherited by Ian when Network Rail took control of Britain's rail infrastructure: Today 2002 Performance: 90.4% on time 78.6% on time Investment: £4.3bn per year up 35% £3.2bn A new chairman for the company will be sought through national advertising (Sunday Times appointment section, 5th October) and through the appointment of recruitment consultants SIR IAN MCALLISTER: Sir Ian McAllister, CBE, was appointed chairman of Network Rail in October 2002 following its acquisition of Railtrack PLC. He was born in August 1943 and graduated from London University, where he gained a BSc in Economics. Ian was previously the chairman of Ford Britain having joined the company in August, 1964, and is also chairman of the Carbon Trust; a past president of the Society of Motor Manufacturers and Traders; also previously deputy chairman of the Qualifications and Curriculum Authority and a member of the advisory committee on business and the environment. He has other wide-ranging interests, including being a board member of UCL Business and was formerly on the advisory board of victim support and the management school, Imperial College. Sir Ian is married with four children. RON HENDERSON: Ron Henderson, group finance director, was formerly group finance director of BICC, finance director of Balfour Beatty, and chief executive of Tuberail. Prior to this he was with Halliburton, Brown and Root and earlier with Arthur Andersen. Age 62, Ron has been with Network Rail since the bid team was put together in early 2002 prior to it taking control of Railtrack in October of that year. Ron is married with two children and lives in Surrey.

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About Network Rail

We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.

Usually, there are almost five million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.

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