Network Rail’s Chief Executive, Mark Carne, has announced his intention to retire before the end of the year.
After joining the organisation in 2014, he has been integral in Network Rail’s reclassification into a public sector company.
Mark Carne has been instrumental in the transformational change in Network Rail, and this is evident in the regulatory structure of the organisation.
In addition, some of the company’s biggest ever projects have been delivered under the stewardship of Mark Carne, including the Great North Rail Project which is ongoing and the opening of the iconic London Bridge station.
Mr Carne informed the Board of his decision at this time so that a replacement will be in the role in time for the start of the next regulatory period in April 2019, the planning for which is currently well underway in conjunction with the Office of Rail and Road (ORR).
And the outgoing Chief Executive confirmed the reason for the timing of his announcement.
He said: “Britain’s railways matter to the lives of millions of people. The men and women who run the railway are enormously committed and it has been a privilege to lead the organisation at a time of huge investment and transformational change.
“I planned the timing of my announcement so there was stability while we developed the business plan for the next five year regulatory period, but so that there will also be enough time for my successor to be firmly in place when it starts.
“I leave knowing that the railway is in good hands and has a great plan for the future.”
The Transport Secretary, Chris Grayling, paid tribute to Mr Carne.
He said: “Mark has done an excellent job as Chief Executive of Network Rail, presiding over the biggest modernisation of our rail infrastructure since Victorian times.
“I hope he will continue to play an important part in the transport sector in the future.”