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Archive
2001-11-29 DTR-001
Department of Transport, Local Government and the Regions
Ian McAllister to head up CLG bid team for Railtrack
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Press release
Department of Transport, Local Government and the Regions
Ian McAllister to head up CLG bid team for Railtrack
The Department for Transport, Local Government and the Regions today announced that Ian McAllister, Chairman and Chief Executive of Ford Motor Company Ltd, will be heading up the team preparing a ''Company Limited by Guarantee (CLG)'' bid to take over Railtrack plc's role as operator of the railway network.
Ian McAllister said, ''I do not underestimate the challenge which developing this bid represents. My experience at Ford has shown that with the right management, investment and planning, companies can be transformed. That is the basis on which the CLG bid team under my leadership will be formulating its proposals.''
Ian McAllister has been appointed to give strategic direction to the CLG team. He will continue to be employed by Ford Motor Company Limited, who have agreed that he will be available for this part-time role.
NOTES TO EDITORS:
Ian McAllister will be acting as Chairman of the bid team responsible for putting together a proposal based on the principles of a company limited by guarantee (CLG). DTLR News Release 451 (23 October 2001) sets out further information on the Government''s proposal for a company limited by guarantee. In essence, a CLG would be a private sector company run on commercial lines but without shareholders. Any operating surplus would be reinvested in the rail network.
The Chairman will be supported by a core team, working on preparing the bid. Further announcements on the core team will be made before Christmas. Arrangements for recruiting financial, legal and technical advisers for the team are well advanced, and should be finalised in the next few weeks.
It is for the Administrator to assess and make recommendations on proposals for how Railtrack plc''s railways assets are transferred out of administration as a going concern.
The CLG bid team will put forward a proposal to the Administrator, who will evaluate all the bids he receives before putting a proposed transfer scheme to the Secretary of State for approval under Schedule 7 of the Railways Act 1993.
Ian McAllister is Chairman, Managing Director and Chief Executive of Ford Motor Company Limited.. He is also Chairman of The Carbon Trust, Deputy Chairman of the Qualifications and Curriculum Authority, Senior Non-Executive Director, Scottish & Newcastle plc and Member of the Audit Committee.
Public Enquiries Unit: 020 7944 3000; E mail: press@dtlr.gov.uk Press Notices available via DTLR Website: http://www.dtlr.gov.uk
Railnews Archive ::: 2001-11-29 DTR-001
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