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FirstGroup appoints ex-Taylor Wimpey finance director as new CFO, former GM VP brought in as non-exec

The FTSE 250 transport group said Ryan Mangold would take up the CFO position, filling the vacancy left by Matthew Gregory who was promoted to chief executive last year

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Mangold's appointment will take effect from 31 May

FirstGroup PLC (LON:FGP) has appointed the financial director of FTSE 100 housebuilder Taylor Wimpey PLC (LON:TW.) as its new chief financial officer.

The FTSE 250 transport group said Ryan Mangold would take up the CFO position with effect from 31 May, filling the vacancy left by Matthew Gregory who was promoted to chief executive last year.

READ: FirstGroup shares up as in-line trading news provides reassurance

Mangold was group finance director at Taylor Wimpey for eight years, where he played a role in the sale of the firm’s North American assets as well as a restructuring of its pension liabilities.

“Ryan is a business transformation leader who brings a wealth of experience from other sectors and a strong track record of executing complex corporate changes to enhance shareholder value. I am confident Ryan will make a major contribution as we continue to drive forward our plans to unlock greater value from our portfolio of market-leading businesses”, Gregory said.

FirstGroup also said it had appointed Julia Steyn, the former vice-president of General Motors Co’s (NYSE:GM) Urban Mobility and Maven car-sharing arms, as an independent non-executive director from 2 May.

“Julia’s corporate development expertise and experience at the forefront of the emerging Mobility as a Service sector will be of immense value to the Group as our services continue to evolve to provide greater ease and convenience for our customers”, said Wolfhart Hauser, FirstGroup’s chairman.

It was also announced that senior independent director Drummond Hall would step down from the board on 31 May. He will be succeeded by David Robbie, who would continue to chair the Audit Committee.

In early trading on Thursday, FirstGroup shares were down 0.4% at 109.3p.

Quick facts: FirstGroup

Price: 117.7 GBX

LSE:FGP
Market: LSE
Market Cap: £1.43 billion
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