Railtrack Group signalled today the final step in the separation of the Boards of Railtrack Group PLC and Railtrack PLC in Railway Administration.
The following Directors will step down from the Board of Railtrack Group with immediate effect;
Sebastian Bull (Business Development Director)
Chris Leah (Safety and Operations Director)
Richard Middleton (Technical Director)
Mr Bull, Mr Leah and Mr Middleton will remain on the Board of Railtrack PLC in Railway Administration.
Mr David Harding, who remains on the Board of Railtrack Group PLC steps down from the Board of Railtrack PLC in Administration.
Commenting on the separation Railtrack Group Chairman John Robinson said;
“Railtrack Group has assembled a small team whose sole aim is to achieve a fair value settlement for Railtrack’s 250,000 shareholders, many of whom are employees, who have seen their assets wrongly confiscated.
“Joint legal action, in conjunction with our shareholders, against the Government’s decision to put Railtrack PLC into Administration is one of the avenues we will be pursuing as well as deriving the best value for the assets held directly in the Group; namely the Channel Tunnel Rail Link and our property development portfolio.
“Today’s announcement is the first step towards reshaping the Board for the challenges ahead”.
