14/02/2000

Stagecoach today announces senior management changes to support the future development of the business. Mike Kinski, group chief executive, will be leaving the company to pursue other business interests, having spent the last two years developing the organisation and more recently the transition plan to integrate Coach USA into the Stagecoach group.

With the strategy in place, the following senior management structure and appointments are announced with immediate effect:

• Keith Cochrane, finance director, will become group chief executive, reporting to Brian Souter, executive chairman. Keith Cochrane will become responsible for all business operations. The succession plan has identified a number of strong candidates for the position of finance director and an appointment will be made in due course.
• Brian Souter will continue to be responsible for corporate strategy, business development and identifying new acquisition opportunities.
• Frank Gallagher, currently president and chief operating officer of Coach USA, will become chairman and chief executive officer of Coach USA, reporting to Keith Cochrane. Following the establishment of the transition plan, Larry King will also be leaving the group with immediate effect. Frank Gallagher, who has more than 30 years experience in the US bus industry and is a founder member of Coach USA, also takes Larry King's place on the main board of Stagecoach.
• Linda Burtwistle, a senior member of the Stagecoach finance team, will be joining Coach USA finance director, reporting to Frank Gallagher.
• Ross Martin, at present managing director of Stagecoach New Zealand, will become chairman of Stagecoach's New Zealand, Australian and Hong Kong operations, reporting to Keith Cochrane.

Brian Souter said: "I would like to thank Mike for the major contribution he has made in the development of the business over the last two years, putting in place key management and organisational structures and helping to place Stagecoach in a strong position. I wish him well for the future. Although Mike resigns as group chief executive with immediate effect, I am pleased that he will remain with us for a 6-month consultancy period.

"Keith has also made an important contribution to the development of the business over the last seven years, and I am sure that this will continue in his new role, building on present strengths to support the many exciting opportunities open to the group."

"Finally, I would also like to thank Larry King for his major contribution in building Coach USA, and I welcome Frank Gallagher onto the Stagecoach board."