Turnaround veteran to head board at Network Rail

One of Britain's leading industrialists is to head the board at Network Rail.

Rick Haythornthwaite has been given the nod to succeed Sir Ian McAllister this summer.

Haythornthwaite, 52, is best known for his four-year turnaround of Invensys, having sold the Blue Circle cement giant to the French. He had spent nearly two decades with BP.


Consolation: Rick Haythornthwaite (right) was passed over at Land Securities when its chairman left, but will now head Network Rail

Haythornthwaite's appointment to Network Rail is a substantial consolation for having been passed over at Land Securities after the departure of chairman Paul Myners into government.

Though Network Rail is not quoted  -  it is a state-guaranteed entity following the 2001 collapse of Railtrack  -  its operating failures make it one of the hottest seats in industry.

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