(Sharecast News) - Go-Ahead Group chief executive David Brown is to step down after a decade in the role, the bus and rail operator said on Wednesday.
Brown, who has worked in the sector for nearly 40 years, will leave at the end of this year, to ensure a smooth handover. He became chief executive of Go-Ahead in 2011, joining from Transport for London where he was managing director of surface transport.
Brown said: "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."
Chairperson Clare Hollingsworth said: "On behalf of the board I would like to thank David for his strong and inspirational leadership of the group over the last ten years. He has championed innovation and growth in the UK, led our oversees expansion and successfully steered us through the pandemic."
The search for his successor is underway, the firm said.
Gerald Khoo, analyst at Liberum, said: "It will be interesting to see if the group goes for an internal appointment, an appointment from elsewhere in the industry, or one from outside the industry. The track record of public transport chief executives from outside the industry is patchy, but external perspective can be a catalyst for change."
As at 1000 BST, shares in Go-Ahead were off 3% at 1,265.0p.
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