Transportation provider National Express Group PLC has announced that it is changing its name to Mobico Group PLC, effective in early June 2023.

"The Board of Directors believes that the Mobico name better reflects the group's international nature and its diverse range of mobility services as it continues to lead the modal shift to mass transit," stated a news release published by the company this week.

It's expected that the company's operating subsidiaries will keep their customer-facing brands and National Express still will be used with the group's United Kingdom national coach network and certain other business.

"All significant brand names across the groups global operations including Alsa, WeDriveU, Peterman, and Durham School Services will also be retained," the release said.

The new name doesn't come with any operational or structure changes, officials reported. The company will continue to trade on the stock exchange as NEX until the name change takes effect, at which time the stock ticker will switch to MCG.

"Whilst National Express is a highly valued consumer brand, Mobico better represents our multi-modal operations, global reach, and future ambitions," said Ignacio Garat, National Express Group's chief executive.