REG - Mobico Group PLC - Ignacio Garat to step down as CEO

MobicoAnnouncement

29/04/2025 07:00

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RNS Number : 5181G  Mobico Group PLC  29 April 2025

Strictly Private &
Confidential
 

 

29 April 2025

MOBICO GROUP PLC

Ignacio Garat to step down as CEO

Mobico Group Plc ("Mobico" or "Group") announces that Ignacio Garat, CEO, will
be stepping down from his position with effect from 30 April 2025. Ignacio
joined Mobico in 2020 and will remain with the Group for the next three
months, moving to an advisory role to support a smooth transition.

The Board will launch a search for his successor with Phil White, Chair
designate, taking on the role of Executive Chair on an interim basis with
effect from 1 May 2025. As previously noted, Phil has over 40 years'
experience in the transport sector and has held a range of non-executive roles
across different industries. He was previously CEO of National Express Group
plc between 1997 and 2006(1), during which time he expanded the business
internationally and oversaw the transformational acquisition of Alsa.

Helen Weir, Chair, commented: "Ignacio has worked tirelessly on behalf of
Mobico and, on behalf of the Board, I would like to thank him for his
contribution. With the sale of North  America School Bus concluded, and our
full-year results announced, we agreed with Ignacio that now was the right
time for a change in leadership."

Ignacio Garat, CEO, said: "The last two years have not been without their
challenges as we have had to respond and adapt to a series of market
headwinds. However, I'm proud of the role our 51,500 employees carry out each
and every day to help support our customers and the communities they serve. It
has been a privilege to work alongside the team."

Phil White added: "We must now focus on building a business that is fit for
the future. Working alongside the Board and leadership team, my priorities as
Executive Chair will be to accelerate the pace of operational and financial
improvements, appoint a  CEO for Mobico's next chapter and to ensure that the
value inherent in the Group's portfolio is better reflected."

 

Enquiries

 Mobico Group  John Dean          Tel: +44 (0)121 803 2580
 Headland      Stephen Malthouse  Tel: +44 (0)7734 956 201

               Matt Denham        Tel: +44 (0)7551 825 496

               Antonia Pollock    Tel: +44 (0)7789 954 356

 

(1) National Express Group plc was renamed as Mobico Group plc in June 2023.

 

Notes

 

1.   Information about Ignacio Garat's remuneration arrangements on leaving
the Company will be disclosed on the Company's website in due course in
accordance with section 430(2B) Companies Act 2006

 

2.   Legal Entity Identifier: 213800A8IQEMY8PA5X34

 

3.   This announcement is made pursuant to LR 6.4.6(2)-(4) of the Listing
Rules and is classified as information under 2.2 for the purposes of DTR 6
Annex 1

The information contained within this announcement is deemed by Mobico to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No.596/2014 as it forms part of domestic law of the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018. By the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

The person responsible for arranging for the release of this announcement on
behalf of Mobico is Simon Callander, General Counsel and Company Secretary.

 

 

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