Friday 10 Feb 2012

NETWORK RAIL GENERAL MEETING ADJOURNED

Region & Route:
National

Network Rail's general meeting to discuss directors' remuneration was adjourned today.

Rick Haythornthwaite, chairman, said: "Today's meeting is the latest leg in an 18-month search to find the answer to a crucial question - how can we retain and attract talent to meet the very significant challenges that Network Rail takes on daily - while at the same time, make our remuneration approach better aligned with taxpayer needs, tougher in its demands and less lucrative in its potential reward. This dilemma remains unresolved."

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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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