National Express Group PLC
24 May 2006
Wednesday 24 May 2006
National Express Group PLC ('the Group')
Annual General Meeting
Trading Update and appointment of new Chief Executive
At the National Express Group ('the Group') Annual General Meeting held this
morning, Chairman, David Ross, made the following comments on the company's
trading performance and announced the appointment of Richard Bowker as Group
Chief Executive with effect from early September. Richard will succeed Phil
White, whose planned retirement from the Group was announced at the company's
preliminary results presentation in March.
Commenting on current trading, David said;
'I am pleased to report that current trading across the Group is in line with
our expectations. Alsa is trading well and its integration into the Group is on
schedule. Our train companies continue to take the lead in the latest rail
punctuality league tables and we are focused on bidding for those train
franchises where we are the incumbent operator. Our North American operations
experienced a very good bid season and our UK bus and coach operations continued
to perform well.
Looking forward, we continue to monitor the cost of fuel and will mitigate its
effect where practicable. The Board remains confident of the Group's future
prospects.'
Commenting on Richard Bowker's appointment, David said;
'At the announcement of the preliminary results in March, we announced that Phil
White would be retiring from the Board at the end of the year. Today we are
delighted to announce the appointment of Richard Bowker as Chief Executive of
the Group. He is an outstanding individual with a great track record of
leadership and achievement in both public and private sectors. I believe he is
well placed to take the Group forward to the next stage of its growth. I look
forward to working with Richard. I would like to take this opportunity to thank
Phil on behalf of the Board for his commitment and contribution to the Group
over the past ten years.'
- ENDS -
Notes to Editors:
Richard, aged 40, is a qualified chartered management accountant, starting his
business career at London Underground where he specialised in innovative
procurement techniques, commercial development and private finance initiative
and public private partnerships and structures. Between December 2001 and
September 2004, he was Chair and Chief Executive of the Strategic Rail Authority
where he led the UK rail industry through the successful delivery of the multi
billion pound West Coast Main Line Route Modernisation and the establishment of
stability and clarity in the public private partnership with the train
operators. Richard was formerly commercial director of Virgin Group and
co-chairman of Virgin Rail. In August 2005 he was appointed Chief Executive of
the Partnerships for Schools ('PfS'), a government body responsible for
delivering the Building Schools for the Future investment programme.
For further information, please contact:
Nicola Marsden/Georgina Parkes
National Express Group PLC 020 7529 2000
Andrew Dowler/Ben Foster
Financial Dynamics 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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