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FirstGroup PLC (FGP)

  Print      Mail a friend       Annual reports

Wednesday 22 September, 2010

FirstGroup PLC

Directorate Change

                         Embargoed until 07:00am on Wednesday 22 September 2010

                 FirstGroup plc ("FirstGroup" or "the Group")                  

                             Board Succession Plan                             

Following a distinguished career at FirstGroup, Sir Moir Lockhead has decided
to retire on 31 March 2011 after 21 years as Chief Executive. The Board of
FirstGroup will therefore implement its succession plan with Tim O'Toole
succeeding Sir Moir Lockhead as Chief Executive with effect from 1 November

Tim joined the Board in May 2009 as Non-Executive Director and was subsequently
appointed Chief Operating Officer and Deputy Chief Executive in June 2010. He
brings a wealth of international transport management experience most recently
as Managing Director of London Underground.

Commenting, Martin Gilbert, Chairman said:

"Sir Moir has made an outstanding contribution to FirstGroup and to the
transport industry as a whole during his long and successful career. As Chief
Executive his vision and drive led the transformation of the Group from an
employee and management buyout of Grampian Regional Transport in 1989, with 500
employees and £15m of revenues, into one of the world's leading transport
operators with revenues of over £6bn and more than 130,000 employees. With an
exceptional track record, he is an impressive leader and it has been a
privilege to work alongside Sir Moir over the past 21 years. His work will
ensure the continued long term success of the Group for many years to come."

Commenting, Sir Moir Lockhead, Chief Executive said:

"I firmly believe that timing is everything and with FirstGroup in a strong
position to continue its successful development the time is right for me to
hand over to an outstanding team led by Tim O'Toole.

Over the past 21 years I have had the privilege of leading the Group. During
this time the pace of change and the level of success we have achieved have
been extraordinary. From the employee and management buyout of Grampian
Regional Transport we have built the Group into a leading international
transport provider with revenues of over £6bn and more than 130,000 employees
worldwide. The Group's success is built on the commitment and professionalism
of our employees and their dedication to serving our customers in their local

I am immensely proud to have been part of this journey and I know that under
Tim's leadership the business will continue to go from strength to strength,
providing safe and high quality services for our customers and creating value
for shareholders.

It is my intention to retire on 31 March 2011 and to hand over my executive
responsibilities from 1 November 2010. This will enable me to assist with the
transition and provide any support as required to Tim and the Group."

Notes for Editors:

There will be a conference call for media at 10:00am today:

The dial in details are as follows and those participating will need to ask for

FirstGroup media call

From the UK: 0800 073 1807

Internationally: +44 (0) 1452 541 076

Conference ID 12626934

Photographs are available from or 020 7291 0512

The Group will announce its scheduled pre close trading update for the six
months to 30 September 2010 on Wednesday 29 September 2010.


Contacts FirstGroup:

Martin Gilbert, Chairman

Sir Moir Lockhead, Chief Executive

Rachael Borthwick, Group Corporate Communications Director

Tel: +44 207 291 0512 / +44 7771 945 432


Biographical details for Sir Moir Lockhead OBE

Chief Executive and Deputy Chairman since the formation of FirstGroup (formerly
FirstBus) in 1995. Originally a mechanical engineer he joined Grampian
Transport in 1985 as General Manager and went on to lead the successful
employee management buy-out of GRT Bus Group PLC in 1989. In 1996 he was
awarded the OBE for services to the bus industry and in 2008 he was awarded a
Knighthood for services to transport. He is a past President of the
Confederation of Passenger Transport and currently President of the Chartered
Institute of Logistics and Transport and Senior Governor of the University of

Biographical details for Tim O'Toole CBE JD

Appointed to the FirstGroup Board as a Non-Executive Director in May 2009 and
subsequently appointed Chief Operating Officer and Deputy Executive in June
2010. He was, until the end of April 2009, Managing Director, London
Underground. He joined Transport for London in 2003 prior to which he was
President and Chief Executive of Consolidated Rail Corporation, one of
America's most successful rail networks. He is a Non-Executive Director of CSX
Corporation, a rail freight transportation company in North America.


a d v e r t i s e m e n t