The pressure has been mounting for several months, on FirstGroup CEO Matthew Gregory and today, he has called it quits, with his departure being after the AGM in September.
FirstGroup plc ('FirstGroup' or the 'Group') announces that Matthew Gregory has informed the Board of his intention to step down as Chief Executive and as an Executive Director at the conclusion of the Company's AGM on 13 September 2021. Accordingly, Matthew will not be seeking re-election at the AGM.
David Martin, Chairman, will become interim Executive Chairman at the conclusion of the AGM on 13 September until a permanent Chief Executive is appointed. A comprehensive search is underway to select a new Chief Executive for the Group.
Matthew will work closely with David to ensure a smooth handover process. Given his knowledge and experience of the Group, Matthew will also be available to support David over the coming months, including with certain matters associated with completing the transition to the ongoing UK-focused Group.