Portfolio

FirstGroup appoints former Arriva boss as new chairman

By Michele Maatouk

Date: Thursday 15 Aug 2019

FirstGroup appoints former Arriva boss as new chairman

(Sharecast News) - FTSE 250 transport operator FirstGroup has appointed the former chief executive of Arriva, David Martin, as it new chairman with immediate effect.
Martin was appointed to the board of Arriva in 1998 with specific responsibility for international development, before taking over the leadership of the company in 2006.

During his tenure, Arriva was transformed into a multi-national transport services group through a number of key strategic mergers and acquisitions, FirstGroup said. Arriva was bought by Deutsche Bahn back in 2010 but Martin stayed on as CEO before stepping down in January 2016.

He is currently senior independent director at waste management group Biffa and served as interim chairman there for a six-month period. He was formerly a non-executive director at Ladbrokes and was chair of their remuneration committee.

Martin said: "I am pleased to be joining FirstGroup at a key point in its development. Undoubtedly there are challenges which we must overcome, but I am confident in the opportunity that exists to unlock the considerable value within the group.

"By ensuring the timely delivery of the most effective and appropriate means of value creation, I look forward to playing a pivotal role in achieving a successful outcome in the interests of all stakeholders."

David Martin was the top choice of activist investor Coast Capital.

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