Lord Hendy of Richmond Hill has been reappointed as the Chair of Network Rail to serve a further two years, the Transport Secretary has announced.
As Chair of the Board, Lord Hendy of Richmond Hill, will continue to oversee Network Rail’s multi-billion-pound budget and will also help steer reliability across both passenger and freight services across England, Scotland and Wales.
Network Rail recently announced their plans for the £44 billion five-year control period 7 with climate change, infrastructure improvements and freight services all playing a key role in its strategy.
Part of his role will also be to ensure their will be a smooth transition to Great British Railways, which it is hoped will happen in earnest in 2024.
Once delivered, Great British Railways (GBR) will take control of the industry’s finances with a new headquarters based in Derby.
Transport Secretary Mark Harper said: “I am delighted to reappoint Peter, Lord Hendy of Richmond Hill, as Chair of Network Rail and with his vast experience in the industry, I have no doubt he will help oversee a seamless transition to Great British Railways, delivering our shared goals of a rail network that drives modernisation and economic growth while enhancing the role of the private sector.”
Lord Hendy of Richmond Hill, said: "I am looking forward to supporting Andrew Haines, Chief Executive, and his team, in maintaining and improving Network Rail's delivery, now and into the next five-year funding period. I will also do everything I can to move the reform agenda, and the creation of Great British Railways, forward as soon as possible.
Passengers and freight customers deserve a better, more cost effective railway which only reform and an integrated railway can deliver. I look forward to continuing to support Network Rail's transition to Great British Railways.”
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