LCR chief is approached for Network Rail position
Written: 19th June, 2008
Rob Holden, the chief executive of London & Continental Railways (LCR), has been approached by headhunters seeking a new chairman for Network Rail.
Mr Holden, who was responsible for the construction of the £5.8bn high-speed line to the Channel Tunnel, has been sounded out as a replacement for Sir Ian McAllister. Sir Ian, 64, a former chairman and managing director of Ford UK, has chaired Network Rail since it took over from Railtrack in October 2002.
Mr Holden, who is in his early 50s, is understood to have been approached by headhunter Egon Zehnder several weeks ago and expressed an interest in the job. He declined to comment yesterday.
Network Rail insists there are no near-term plans to replace Sir Ian and that any activity by its headhunter is only testing the market as part of normal succession planning.
Mr Holden won praise for delivering the 68-mile high-speed line between the tunnel and St Pancras International station on time and on budget - pertinent skills when Network Rail is about to embark on £7.5bn of projects to expand the network, including the Thameslink development to raise capacity across London.
He also oversaw last November's move of Eurostar trains from London Waterloo to St Pancras without any of the problems that dogged British Airways' relocation to Terminal 5 at Heathrow.
Mr Holden has already signalled his intention to step down when the Government auctions the high-speed line next year as part of a process that will see LCR split into three parts - the line, its ownership of Eurostar UK and a property portfolio, including land around the 2012 Olympic site in London.
Industry sources said Mr Holden would have to weigh up whether to pursue another chief executive role or take a number of non-executive jobs such as the Network Rail chairmanship.
Sir Ian said earlier this month that he intended to remain in his post for "at least a year".
Source The Telegraph