12 September 2014
FIRSTGROUP PLC
("FirstGroup")
Chairman John McFarlane to step down at July 2015 AGM
FirstGroup announces that John McFarlane will be stepping down from the role of
Chairman at the Annual General Meeting in July 2015, as a condition of assuming
the Chairman's position at Barclays Plc announced this morning.
"Barclays is grateful to Aviva and FirstGroup for agreeing to release Mr
McFarlane to take on this important role. The appointment has been approved by
the Prudential Regulation Authority and the Financial Conduct Authority",
Barclays said in its announcement.
FirstGroup Senior Independent Director, Drummond Hall has begun the process to
identify a strong replacement for Mr McFarlane. He said: "It is unfortunate
that John will be unable to see his tenure through at FirstGroup, but we all
understand the importance of the role at Barclays he has been asked to take
on".
John McFarlane commented: "It is with regret that I must take the difficult
step of leaving FirstGroup so early in my tenure. I am, though, satisfied with
the progress we have made in appointing a strong Board of Directors, in
achieving stability, in testing the business plan with the team, and in
endorsing the way ahead and we will continue to build on this progress as we go
forward. I am confident that we will appoint a highly qualified successor and I
will work towards ensuring a seamless transition."
Contacts FirstGroup:
Rachael Borthwick, Group Corporate Communications Director
Tel: +44 (0)20 7291 0512 / +44 (0)7771 945432
Stuart Butchers, Group Media Relations Manager
Tel: +44 (0) 20 7291 0507 / + + 44 (0)7713 317979
Brunswick PR:
Michael Harrison/Andrew Porter
Tel: +44 (0) 20 7404 5959
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