FirstGroup names Graham Sutherland chief executive

20th Apr 2022 08:07

(Sharecast News) - FTSE 250 bus and rail operator FirstGroup has appointed Graham Sutherland as its chief executive.

Sutherland, who will take up the role on 16 May, has a background in telecommunications. He was chief executive of KCom Group - formerly Kingston Communications - until it was sold to a Macquarie-managed infrastructure fund in 2019, and prior to that spent over a decade at BT Group. Roles included chief executive of BT's business and public sector division and head of BT Ireland.

David Martin, FirstGroup chair, said Sutherland had a "strong track record in the delivery of critical services and in creating value for shareholders in rapidly evolving regulatory and technological environments".

Sutherland said: "With its prime positions in bus and rail, strong balance sheet and clear purpose, FirstGroup has many opportunities ahead and I look forward to helping share its future."

Sutherland replaces former incumbent Matthew Gregory, who stepped down in September after three years in the role. Shareholder Coast Capital, a New York hedge fund which owns around 15% of the business, had called for Gregory's resignation over the sale of FirstGroup's US businesses. Gregory, however, insisted his decision to step down was unrelated.

Martin, who took on the role of executive chair following Gregory's departure, will revert to being non-executive chair from 1 July.