Go-Ahead boss Christian Schreyer to step down this year
The chief executive of Go-Ahead Group, one of Britain’s biggest transport companies, is set to step down at the end of October.
Group chief executive Christian Schreyer will be succeeded by Miguel Ángel Parras, chief investment officer at the Spanish infrastructure company Globalvia.
Clare Hollingsworth, who has held the role of non-executive chair since 2019, will also step down by the end of the year.
Schreyer joined the transport operator in 2021 after 30 years in the sector and led the group through a £650m takeover deal last year, which saw Go-Ahead acquired by Globalvia and the Australian bus operator Kinetic.
He has faced a number of challenges during his tenure, taking the helm amid an accounting scandal, which saw the UK-listed firms’ shares suspended by the London Stock Exchange in early 2022 due to a multi-million pound breach of its Southeastern railway franchise agreement.
Go-Ahead was subsequently ousted from its franchise by the then Transport Secretary Grant Shapps and fined £23.5m.
The conglomerate has been looking to bounce back since. Its financial results in March showed profits tumbled 20 per cent in the 12 months to July 2022, due to the axing of its Southeastern franchise network.
Go-Ahead provides UK bus services and is the operator of Britain’s biggest railway franchise, Govia Thameslink Railway (GTR).
“I am very proud of the resilience shown by the business in adapting to change over the last two years. Successful service businesses are all about people, and Go-Ahead has some of the best in the industry. I wish Miguel and all my colleagues in Go-Ahead all the best for the future,” Schreyer said.
Incoming boss Ángel Parras said: “I am thrilled to be entrusted with the role of CEO in such a dynamic business, taking the torch from Christian, a truly impressive professional.”
“Public transport presents exciting prospects for growth, especially as the global landscape shifts towards a more sustainable, low-carbon future.”
Foremost on his in tray will be navigating the group through one of the most difficult periods in British rail in decades, with industrial action and low demand plaguing operators across the country.