Sir Brian Souter will give up his role as chairman at the end of this year

 
Sir Brian Souter

 
After four decades at the heart of Stagecoach, Sir Brian Souter will step down from his role as chairman on December 31. He will become a non executive director of the company he co-founded with his sister, Ann Gloag, in 1980.

Ray O’Toole, a non-executive director, who served as chief operating officer of National Express Group until 2010, will succeed Souter as chairman. Gloag, also a non executive director, will retire from the board.

Souter has been a prodigious deal-maker with a keen eye for innovative commercial opportunities.

“At the age of 65, the time is right for me to step down as Stagecoach chairman to spend time on my other interests and with my family, including my three young grandchildren,” he said.

“My family and I continue to have a significant shareholding in Stagecoach and I have every confidence in the management team, our strategy and the positive prospects of the business.”

O’Toole said the contributions of Souter and Gloag to the public transport industry and Stagecoach “cannot be overstated”.

 
This article appears in the latest issue of Passenger Transport.

DON’T MISS OUT – GET YOUR COPY! – click here to subscribe!