Shares of Go-Ahead Group are down on Wednesday after announcing that the company's CEO, David Brown, has notified the Board of his intention to retire as Group Chief Executive at the end of this year after more than 10 years leading the business.
Brown spent nearly 40 years working in the transport industry, including as CEO of London Buses for Go-Ahead London and Managing Director of Surface Transport at Transport for London before becoming Group Chief Executive of The Go-Ahead Group in 2011.
Go-Ahead said it has now begun the process of appointing a successor.
Brown commented said, “it has been a privilege to lead the Go-Ahead Group and its 30,000 colleagues delivering over a billion annual customer journeys pre-pandemic.
“I look forward to helping those passengers return to public transport in the next few months, which will be vital as we rebuild the UK economy and work towards ambitious climate change targets. I have thoroughly enjoyed my many years providing vital transport services to customers, communities and stakeholders, and I look forward to the next stage in my career.”
Go-Ahead's Chairman of the Board, Clare Hollingsworth, thanked Brown for his “strong and inspirational leadership of the Group over the last 10 years.”
Hollingsworth continued, “he has championed innovation and growth in the UK, led our overseas expansion and successfully steered us through the pandemic. David will continue to provide strong leadership to the Group to enable a smooth handover.”
Go-Ahead Group shares have fallen 3.62% to 1,253p following the announcement.
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