FirstGroup PLC Directorate Change
27 July 2021 - 4:00PM
UK Regulatory
TIDMFGP
FIRSTGROUP PLC
DIRECTORATE CHANGE
FirstGroup plc ('FirstGroup' or the 'Group') announces that Matthew Gregory has
informed the Board of his intention to step down as Chief Executive and as an
Executive Director at the conclusion of the Company's AGM on 13 September 2021.
Accordingly, Matthew will not be seeking re-election at the AGM.
David Martin, Chairman, will become interim Executive Chairman at the
conclusion of the AGM on 13 September until a permanent Chief Executive is
appointed. A comprehensive search is underway to select a new Chief Executive
for the Group.
Matthew will work closely with David to ensure a smooth handover process. Given
his knowledge and experience of the Group, Matthew will also be available to
support David over the coming months, including with certain matters associated
with completing the transition to the ongoing UK-focused Group.
David Martin, FirstGroup Chairman said:
"Matthew has made a significant contribution to FirstGroup since joining in
2015, initially as CFO and then stepping forward to take up the post of Chief
Executive in 2018. During that time, he has been instrumental in delivering the
Board's strategy to rationalise our portfolio of businesses, culminating in the
transformational sale of First Student and First Transit. Matthew was also
responsible for delivering margin improvements particularly in First Student
and First Bus, as well as First Rail's successful Avanti West Coast bid, which
restored FirstGroup to its leading position in UK passenger rail. Under his
leadership the Group adeptly responded to the unprecedented challenges created
by the coronavirus pandemic. He leaves FirstGroup a more focused, resilient and
flexible organisation, well positioned to benefit from the many opportunities
ahead. On behalf of the Board I would like to thank Matthew for all that he has
achieved and wish him every success for the future."
Matthew Gregory said:
"Having delivered the substantial portfolio rationalisation strategy and with
FirstGroup now positioned to emerge from the pandemic as a resilient and robust
business, I have decided the time is right for me to move on to new
opportunities. In this landmark year the Group has more than risen to its
challenges. We have delivered on our strategic objectives, protected our
financial stability, and supported our communities with essential services
while helping to shape the future of public transport in the UK. It has been my
honour and a privilege to lead this great business and its many thousands of
employees who are dedicated to serving their customers every day."
Notes
David Martin is the former Chief Executive of Arriva, which he joined in 1998
as board member responsible for international development before taking over
the leadership of the company in 2006. During his tenure, Arriva was
transformed into a multinational transport services group through a number of
key strategic mergers and acquisitions. In September 2010 the company was
purchased by Deutsche Bahn, one of the world's leading passenger transport and
logistics companies. David remained as Chief Executive throughout this period,
before stepping down in January 2016. He remained on the Arriva Board advising
on a range of issues until May 2017. He was formerly a Non-Executive Director
at Ladbrokes plc and previously held roles at British Bus plc, where he was
responsible for development of strategy and M&A, at shipping company Holyhead
Group and at business services group Initial Services PLC. David is a chartered
management accountant. External appointments: Senior Independent Director at
Biffa plc; member of the advisory board at Nottingham Business School; member
of the steering committee at Nottingham Trent University.
Contacts at FirstGroup: Contacts at Brunswick PR:
Faisal Tabbah, Head of Investor Andrew Porter / Simone Selzer
Relations Tel: +44 (0) 20 7404 5959
Stuart Butchers, Group Head of
Communications
corporate.comms@firstgroup.com
Tel: +44 (0) 20 7725 3354
Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR
6 Annex 1R: 3.1.
END
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