FGP Firstgroup Plc

 
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 
 
 

(END) Dow Jones Newswires

July 27, 2021 02:00 ET (06:00 GMT)

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