Retiring from Network Rail: chief executive Mark Carne. Tony Miles

NETWORK RAIL chief executive Mark Carne is to retire from the company later this year. NR says the timing will allow a new chief executive to be established in the role before the start of Control Period 6 in April 2019.

Mr Carne joined NR in January 2014 from Royal Dutch Shell, where he was executive vice-president for the Middle East and North Africa. During his time at NR he has led the company through the period of reclassficiation into the public sector, and the associated rebasing of the delivery plan that was required following the change in the company’s debt structure. He has also pursued a strategy of devolution to NR’s Routes, with the aim of making the public sector company behave like a private sector business and secure third-party funding.

NR chairman Sir Peter Hendy will lead the recruitment of Mr Carne’s replacement. The exact timing of Mr Carne’s departure is yet to be confirmed, but is likely to depend on how quickly a successor is appointed.