Network Rail chairman to step down in 2009

Network Rail chairman Sir Ian McAllister is to step down from his post at the company's AGM in July 2009, it was revealed today.

Meanwhile group finance director Ron Henderson is to retire.

Chief executive Iain Coucher said: "Ian and Ron have been outstanding members of the leadership team.

"Ian has been part of Network Rail from its inception, and has led the company from the substantial problems it inherited, to become a successful company, with both train punctuality and safety at record levels. His contribution has been enormous.

"The Board of Network Rail and I extend our sincere gratitude to both Ian and Ron for their outstanding contributions."

Network Rail will begin looking for a new chairman immediately.