Media centre

Tuesday 26 Jul 2005

NETWORK RAIL’S MEMBERS ATTEND COMPANY’S THIRD AGM

Region & Route:

National

Network Rail’s Members met recently at the company’s third annual general meeting, which was held in Birmingham (20 July). The meeting heard about the performance improvements the company had made in the past 12 months, which included a reduction in delay minutes of 2.3 million minutes and an increase in the number of ‘on time’ trains to 84.3%. Members also heard about the significant structural changes the company had made in the past 12 months, which contributed to the company’s successful year.  These included bringing maintenance in-house and shifting to a functional structure. The Members took full advantage of the opportunity to hold the Network Rail Board to account and to debate the performance of the company in the past year.  Among the other issues discussed were the ability of passengers to make advance ticket bookings and Directors’ remuneration. The resolutions passed by members included:

• To appoint / re-appoint as Directors Ron Henderson and Charles Hoppe, David Bailey, Yvonne Constance, Mike Firth and Chris Green
• To approve the Directors’ remuneration report
• To note the company’s progress

  Two proposed resolutions submitted by individual Members, to establish a Members’ Council and to ask the Directors to make a voluntary reduction in their bonus payment, were firmly rejected. After the meeting, Ian McAllister said: “It was a robust and productive meeting.  The Members quite rightly debated the decisions we have made in the past 12 months.  The Board and I are immensely grateful to the Members for the contribution they make, not just at our annual general meeting, but throughout the year.  They perform a hugely important function in holding us to account as we work towards delivering a safe, reliable and efficient railway.”