FIRSTGROUP PLC
2019 AGM STATEMENT
FirstGroup plc ('FirstGroup', the 'Group'), a leading provider of transport
services in North America and the UK, will be holding its Annual General
Meeting ('AGM') at 2.30pm today.
Ahead of the meeting, FirstGroup notes that overall trading performance in the
first quarter has been in line and there is no change to our expectations for
the current financial year.
The Group is focused on delivering the strategy announced on 30 May at pace. By
executing the announced portfolio rationalisation plans our future emphasis
will be on the Group's core contracting businesses in North America, where we
see significant potential to generate long term, sustainable value. In parallel
with these plans, we continue to drive forward the clear strategies set for
each of our divisions. By doing so the Group will achieve further progress and
growth for shareholders, while delivering on our promises to our customers,
passengers and other stakeholders.
As previously announced, Wolfhart Hauser will step down from the Board and as
Chairman at the end of the AGM today, and Senior Independent Director David
Robbie will become interim Chairman of the Board at that time. A formal and
rigorous process to select a new Chairman in accordance with UK Corporate
Governance Code principles is well underway, overseen by David Robbie. The
Board is clear that the priority is to complete this process without delay,
while selecting a candidate with the necessary skills and experience to serve
effectively in the interests of all shareholders. The Group has consulted with
major shareholders to hear their views and suggestions, and looks forward to
updating the market of a satisfactory outcome at the earliest opportunity.
The Group is scheduled to announce interim results for the six months to the
end of September on Thursday 14 November 2019.