National Express yesterday wheeled out a new chief executive for its North American division.
Matthew Ashley, the group’s finance director, will move to Chicago this year to take the helm of its US operation. Chris Davies will leave Inchcape, the car dealer, to replace him.
The management reshuffle was unveiled days after the group signalled its intention to pull out of the British rail market, selling off the licence for its last remaining asset.
National Express, the second biggest player in the American school bus market, is seeking to expand further across the Atlantic.
David Duke, the present chief executive of National Express in North America, is stepping back “as part of a long-planned phased retirement”, the company said.
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While Mr Duke is not on of the board of directors, Mr Ashley will remain a member when he succeeds him. Mr Duke will remain at National Express as a senior counsel to Mr Ashley once he has stepped down on September 1 after a transition period.
Mr Davies will join the National Express board on May 10, having served as interim group chief financial officer at Inchcape since early 2016.
He said yesterday that he was looking forward “to playing a part in its continued profitable growth”. National Express shares fell nearly 1¾p to 340p.