Russell Walls, the finance chief of aiport operator BAA, is to join Stagecoach as a non-executive director.
The company, headed by accountant Brian Souter, has also announced pre-tax profits of £244 million, up 11%. Chief executive Keith Cochrane said another heavyweight City figure would be appointed soon.
However, there was no suggestion that, at the end of the worst year in Stagecoach’s 20-year history, founder and chairman Souter would be stepping down from his executive role. The City has expressed its concerns over the governance of Stagecoach.
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