Freightliner announces appointment of new Chief Executive

Freightliner Group has today announced that Russell Mears will be appointed as Group Chief Executive from Monday 30 September 2013. He will succeed Peter Maybury, who will retire from the position of Chief Executive but remain with the Company as Chairman.

Russell is currently Chief Financial Officer for the Group and has worked with Freightliner since privatisation in 1996. Confirming the announcement of his appointment, Russell said: “I am delighted to take the position of CEO at Freightliner. I believe that with the strength of management at all levels of the business, we have the potential to not only maintain a strong UK market presence, but also develop international opportunities that will enable us to continue our successful growth as a global rail freight player.” Russell went on to say: “I want to offer my thanks to Peter for the way in which he has guided Freightliner Group during the last four years despite a very challenging macro-economic climate. In that time we have continued to invest in equipment and infrastructure at ports and terminals to maintain our competitiveness in the UK market whilst continuing with our overseas expansion and delivering exceptional service delivery to our customers. I look forward to his continued support in his new role with the company as Chairman.”

Peter, who joined Freightliner in 1997, worked within the Group’s intermodal business as Managing Director before being appointed as Chief Executive in July 2009. He offered his congratulations to Russell saying: “Russell knows the company inside out and has proved his credentials in readiness for an appointment such as this. With his first-class financial acumen and attention to detail, I know Freightliner is in safe hands and will continue to flourish despite the challenging trading conditions that exist in all the markets we serve. I wish him every success for the future.”

Thor Johnsen, who manages the Freightliner investment on behalf of Freightliner’s shareholders and is stepping down as interim Chairman said: “We look forward to continuing to work with Peter and Russell in their new roles, and are excited about the exciting growth opportunities in the business. We also want to thank Peter for his contribution in guiding Freightliner to becoming a premier global rail-freight operator.”