ABERDEEN, Scotland — Sir Moir Lockhead of FirstGroup plc will retire on March 31, 2011, after 21 years as the company’s chief executive.
Lockhead has had a lengthy career in transportation. He served as chief executive and deputy chairman since the formation of FirstGroup (formerly FirstBus) in 1995. Originally a mechanical engineer, he joined Grampian Regional Transport (GRT) in 1985 as general manager and went on to lead the successful employee management buyout of GRT Bus Group PLC in 1989.
In 1996, he was awarded the OBE for his services to the bus industry and in 2008 he was awarded a knighthood for his services to transportation. He is a past president of the Confederation of Passenger Transport and currently president of the Chartered Institute of Logistics and Transport and senior governor of the University of Aberdeen.
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FirstGroup Chief Operating Officer and Deputy Executive Tim O'Toole will succeed Lockhead as chief executive effective Nov. 1, 2010.
O'Toole joined the FirstGroup board in May 2009 as non-executive director and was subsequently appointed to his current positions in June of this year. He brings a wealth of international transport management experience to the company. He most recently served as managing director of London Underground.
Of his impending retirement, Lockhead said, "I firmly believe that timing is everything and with FirstGroup in a strong position to continue its successful development, the time is right for me to hand over to an outstanding team led by Tim O'Toole. Over the past 21 years I have had the privilege of leading the Group. During this time the pace of change and the level of success we have achieved have been extraordinary. From the employee and management buyout of Grampian Regional Transport, we have built the Group into a leading international transport provider with revenues of over ₤6 billion and more than 130,000 employees worldwide. The Group's success is built on the commitment and professionalism of our employees and their dedication to serving our customers in their local communities.”
He went on to say that he is proud to have been part of this journey that he will assist and support O’Toole and FirstGroup in the leadership transition between the time that he hands over executive responsibilities on Nov. 1 and his retirement on March 31.
FirstGroup plc is the parent company of FirstGroup America and its business units, which include school bus contractor First Student.
