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2001-12-14 RTK-001
Railtrack Group plc

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Railtrack Group hope appointment brings much needed stability


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Railtrack Group plc

Railtrack Group hope appointment brings much needed stability
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2001-12-14 Bowker and Grant welcome new Railtrack appointments (Strategic Rail Authority)

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date
14 December 2001
source Railtrack Group plc
type Press release



Friday 14 December 2001
Released: 14 December 2001

Railtrack Group today welcomed the appointment of John Armitt and confirmed that Chairman John Robinson and Chief Executive Steve Marshall had resigned from the board of Railtrack PLC with immediate effect.

Steve Marshall Chief Executive of Railtrack Group said “We have been urging the administrators to clarify the board composition of Railtrack PLC. Today’s appointments at least address the uncertainty facing the business and the company’s 12,000 employees during the difficult period of administration.

Improving performance is just one of the many challenges facing the Railtrack management that have been magnified by administration. Performance will hopefully get better as we come out of the autumn, however, there is no quick fix. I wish John and his team luck.

“Railtrack Group will focus on the fight for value for the 250,000 shareholders. These new appointments do not ease the suffering of many employee and small shareholders who have been robbed of their life savings. Until this is addressed it will prove impossible for Government to resolve the future of the nation’s railway.”

- ends -

For more information please contact:

Sue Clark Railtrack 020 7557 8292/3
Donal McCabe Railtrack 020 7557 8292/3
Angus Maitland Maitland 020 7379 5151
All recent press releases can be found on the Railtrack web site www.railtrack.co.uk

ENDS


Railhub Archive ::: 2001-12-14 RTK-001





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