§ Lord Brougham and Vaux
askedHer Majesty's Government:
If they will announce the appointment of the next Chairman of British Rail.
§ Viscount Goschen:
We are very pleased to announce the appointment of Mr. John Welsby, CBE, 4WA to take over the chairmanship of British Rail at I April 1995. John Welsby has been British Rail's Chief Executive since 1990, and will also continue in this post.
His appointment will be for a fixed period to 25 May 1998, at a salary of £ 180,000 a year. He will be eligible for a performance related bonus of up to 40 per cent. of salary, in common with other executive board members and in accordance with Treasury guidelines.
We are delighted that John Welsby has agreed to become the next chairman. His experience and long-standing commitment to improving our railways will be a great asset in taking forward the privatisation process. I know he is keen to see through those changes that are already under way, in order to develop and improve the railways to give rail users the services that we all want to see.
We would also like to pay tribute to Sir Bob Reid's achievements as chairman over the past five years. He has led BR through a period of substantial changes, which have improved both quality and efficiency in British Rail. We are grateful for all he has done.