25th Jul 2019 09:49
(Alliance News) - FirstGroup PLC on Thursday reported first-quarter performance in line with expectations and said it is making progress on recruitment of a new chair.
Ahead of its annual general meeting, the transport services provider said overall trading performance in the first quarter has been in line and there is no change to its expectations for the year ending March 31, 2020.
Since the year-end on March 31, the company said it has been focused on delivering the strategy. In North America, the FTSE 250-listed company said it sees a "significant" potential to generate long term, sustainable value.
In addition, FirstGroup confirmed that Wolfhart Hauser will step down from the board and as chair at the end of the annual general meeting on Thursday, and Senior Independent Director David Robbie will become interim chair at that time.
The company said a formal and rigorous process to select a new chair is well underway, overseen by Robbie. FirstGroup said its 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.
FirstGroup shares were trading 0.4% higher on Thursday in London at 112.39 pence each.
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