Network Rail has confirmed the date when chief executive Mark Carne will hand over the reins to his successor.
Andrew Haines, incumbent chief executive at the Civil Aviation Authority, will take over on August 14, a day after Carne retires.
Carne will remain a Network Rail employee for a short duration, however, as he continues working on his CP6 funding settlement commitments until early September.
It was announced in February earlier this year that Mark Carne, who joined Network Rail in 2014, would retire and that a new CEO would be in place for the next five-year control period, which begins in April 2019.
Andrew is no newcomer to the rail industry. He is a former managing director of First Group’s rail division and managing director of South West Trains.
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He is currently a non-executive director of Eversholt Rail UK, an appointment he will relinquish on joining Network Rail, and he also received an OBE in 2016 for services to transport.
Network Rail has also revealed details of Andrew’s pay package. His salary will be £588,000, inclusive of benefits, which is 27 per cent lower than his predecessor’s.
His salary will be reviewed annually and he will also have an ‘at-risk’ performance related pay element of up to 9 per cent of basic salary. This means that it will be dependent upon performance measured against safety, financial, asset management, project delivery and customer and train performance metrics.
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