Stagecoach Group Limited has announced the transition to a new management team, including Ray O’Toole as new Executive Chairman. 

Stagecoach has confirmed management changes after changing focus last year to prioritise buses and the UK, and de-listing from the London Stock Exchange.

Chief Executive Martin Griffiths has decided to retire from Stagecoach and Chief Financial Officer (CFO) Ross Paterson has also decided to step down from the Company. They will leave the business in March 2023 after a structured handover period.

The new management structure will be as follows: 

• Ray O’Toole, currently Stagecoach Chairman and who has been a non-executive Director of the Company since 2016, becomes Executive Chairman with immediate effect. He has four decades' experience in the transport sector across various operational and Board roles, and he will lead the executive team.
• Bruce Dingwall, currently Director of Finance and who has been with the business for nearly 10 years, will become CFO from 1 February 2023.

In addition, Carla Stockton-Jones will continue to lead the day-to-day operations of the business.

Ray O’Toole said: “Stagecoach’s strength has always been its ability to constantly evolve and to use its energy and entrepreneurial flair to capitalise on new opportunities. I’m delighted to have the opportunity to lead such a talented and experienced team as we enter an exciting new phase of growth for the business as a UK-focused private company under new ownership.

“On behalf of the Board, I would like to thank Martin and Ross for their loyal service over many years. They have both made a significant contribution to the success of the business and I wish them well for the future.

“Stagecoach has a clear strategy to grow our business, and our most recent results have demonstrated we have good momentum. We look forward to working with our government and other partners to deliver on the significant opportunities ahead.”