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Railhub Archive
2008-01-11 CRO-001


Independent non executive directors for Crossrail

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Independent non executive directors for Crossrail

11 January 2008
source Crossrail
type Press release

Crossrail is seeking to appoint four independent Non Executive Directors to its Board. Adverts have been placed in major national newspapers inviting applicants.

The Crossrail Bill has successfully completed its passage through the House of Commons and is now before the House of Lords. Though Cross London Rail Links Ltd (CLRL) will be owned by TfL, it will be a separate business unit whose autonomy to deliver Crossrail as specified by the joint sponsors will be guaranteed in the governing agreements.

Whilst the project will remain the joint responsibility of the Mayor of London and the Secretary of State for Transport as Sponsors, Cross London Rail Links Limited will become a wholly owned subsidiary of Transport for London once Royal Assent is granted to the Crossrail Bill and the various governing agreements have been executed.

To prepare for the commencement of this major Project it has been decided to restructure the Cross London Rail Links Limited Board to meet the terms of the governing agreements now under finalisation.

The Board will comprise at least four independent non executive directors and three executive directors. In addition the two Sponsors each retain the right to add one further non executive director.

Douglas Oakervee, CLRL Executive Chairman, said: 'The creation of a strong independent board during the delivery phase is of paramount importance. It will provide the discipline necessary to ensure the cost and scope of this massive project is contained throughout. And ensure that a world-class affordable railway is delivered on time and within budget.'

On 5 October 2007, Prime Minister Gordon Brown announced that a funding package for Crossrail had been agreed between the Department for Transport, the Mayor of London and London business. Heads of Terms relating to this agreement were published on 19 November 2007.

The candidates are asked to forward details of recent career and relevant experience to the Executive Chairman, Cross London Rail Links Limited, Portland House, Bressenden Place, London SW1E 5BH. The closing date for applications is 31 January 2008.

Railhub Archive ::: 2008-01-11 CRO-001


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