FirstGroup boss departs after £327m loss

FirstGroup boss departs after £327m loss
 

FirstGroup chief executive Tim O'Toole has stepped down with "immediate effect", after the bus and train operator reported a huge full-year loss.
The company, which owns Great Western Railway, said it lost £327m in the year to 31 March, compared with a profit of £152.6m last year.
The group's chairman said the results "fell short of our ambitions".
FirstGroup shares are down by about 12% following the announcements.
Mr O'Toole said: "The time is right for me to step aside. Today's results clear the way for the new approach sought by our chairman and the... read more

 
31 May 2018 in Business, Views: 48
Source: BBC
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