NEW CHAIRMAN STARTS AT NETWORK RAIL

Thursday 23 Jul 2009

NEW CHAIRMAN STARTS AT NETWORK RAIL

Region & Route:: National

Rick Haythornthwaite has taken over as Chairman of Network Rail following the departure of Sir Ian McAllister at the company's AGM held in Bristol yesterday.

Sir Ian announced his decision to step-down at this year's AGM back in October 2008 and in January, the company announced a new designate Chairman had been found, Rick Haythornthwaite.

Mr Haythornthwaite was elected as a Director of the company at Wednesday's AGM and as Chairman, by the Board at a meeting that followed the AGM.

Commenting on his appointment Mr Haythornthwaite said: "It will be a privilege to lead this large, complex and important company as it delivers some big challenges in the years ahead. Success is vital for the three million people who use our railways every day as well as to the economy of the UK."

Also leaving the Board of Network Rail was Jim Cornell, the senior non-executive director, who retired. Replacing him as senior non-executive director is Steve Russell.

Notes to editors

Rick Haythornthwaite (52): In an executive role, Mr Haythornthwaite was CEO of Invensys plc, from 2001 to 2005, leading the rescue and restructuring of the £7bn a year turnover company. He was also group chief executive of Blue Circle industries and spent 18 years with BP in various senior roles. He is currently non-executive chairman of Mastercard Inc, a senior advisor to STAR Capital Partners and president of PSA Energy. His previous non-executive roles included board membership of ICI and Lafarge. In the voluntary sector, he is also chairman of the Southbank Centre. Mr Haythornthwaite, born in 1956, is married and has two adult children. Steve Russell (64): Steve joined the Board in 2007 following a distinguished career at Boots PLC, heading the company as Chief Executive from 2000 to 2003. He currently holds non-executive positions at Barclays PLC and Business Control Systems group. He is also a trustee of St John's Ambulance and Tommy's, the baby charity. Sir Ian McAllister (65): 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. Sir Ian is married with four children.

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