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29 Apr 2025 07:00
Strictly Private & Confidential
29 April 2025
MOBICO GROUP PLC
Ignacio Garat to step down as CEO
Mobico Group Plc ("Mobico" or "Group") announces that Ignacio Garat, CEO, will be stepping down from his position with effect from 30 April 2025. Ignacio joined Mobico in 2020 and will remain with the Group for the next three months, moving to an advisory role to support a smooth transition.
The Board will launch a search for his successor with Phil White, Chair designate, taking on the role of Executive Chair on an interim basis with effect from 1 May 2025. As previously noted, Phil has over 40 years' experience in the transport sector and has held a range of non-executive roles across different industries. He was previously CEO of National Express Group plc between 1997 and 20061, during which time he expanded the business internationally and oversaw the transformational acquisition of Alsa.
Helen Weir, Chair, commented: "Ignacio has worked tirelessly on behalf of Mobico and, on behalf of the Board, I would like to thank him for his contribution. With the sale of North America School Bus concluded, and our full-year results announced, we agreed with Ignacio that now was the right time for a change in leadership."
Ignacio Garat, CEO, said: "The last two years have not been without their challenges as we have had to respond and adapt to a series of market headwinds. However, I'm proud of the role our 51,500 employees carry out each and every day to help support our customers and the communities they serve. It has been a privilege to work alongside the team."
Phil White added: "We must now focus on building a business that is fit for the future. Working alongside the Board and leadership team, my priorities as Executive Chair will be to accelerate the pace of operational and financial improvements, appoint a CEO for Mobico's next chapter and to ensure that the value inherent in the Group's portfolio is better reflected."
Enquiries
Mobico Group | John Dean | Tel: +44 (0)121 803 2580 |
Headland | Stephen Malthouse Matt Denham Antonia Pollock | Tel: +44 (0)7734 956 201 Tel: +44 (0)7551 825 496 Tel: +44 (0)7789 954 356 |
1 National Express Group plc was renamed as Mobico Group plc in June 2023.
Notes
1. Information about Ignacio Garat's remuneration arrangements on leaving the Company will be disclosed on the Company's website in due course in accordance with section 430(2B) Companies Act 2006
2. Legal Entity Identifier: 213800A8IQEMY8PA5X34
3. This announcement is made pursuant to LR 6.4.6(2)-(4) of the Listing Rules and is classified as information under 2.2 for the purposes of DTR 6 Annex 1
The information contained within this announcement is deemed by Mobico to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018. By the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
The person responsible for arranging for the release of this announcement on behalf of Mobico is Simon Callander, General Counsel and Company Secretary.
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