FirstGroup's board has survived an attempted coup by a rebel shareholder, with investors rejecting all of the proposals put forward by hedge fund Coast Capital at the firm's extraordinary general meeting in London.
Train and bus operator FirstGroup has defeated attempts by an activist investor to oust six board members, including the chief executive and chairman.
The battle between train and bus business FirstGroup and an activist investor who wants to replace several board members, including the chairman and chief executive, heated up on Monday.
An activist investor in rail and bus business FirstGroup has failed to file the correct paperwork as part of an attempt to force out six directors, including the chief executive.
Train and bus business FirstGroup has launched a scathing attack on the company’s biggest shareholder, calling it an “opportunistic, self-interested player that is only focused on short-term gains”, as bosses attempt to stave off a boardroom coup.
FirstGroup is mulling over options to spin off its UK bus operations and also selling its iconic Greyhound coach business as part of a major restructuring.
Transport giant FirstGroup has said it will sell off its US Greyhound coach business and spin off its UK bus arm amid pressure from an activist investor to break up the firm.
FirstGroup will post its first annual figures under new chief executive Matthew Gregory next week and they are likely to be pivotal for the Scottish transport giant.
The departing chief executive of FirstGroup is on gardening leave and will be paid nearly £700,000 in lieu of sums owed to him during his notice period.
London’s blue chip index edged out of the red on Thursday as US president Donald Trump played down the prospect of an attack in Syria.
FirstGroup shares shot up nearly 10% yesterday after the transport giant confirmed it had rejected a takeover approach by American private equity firm Apollo Management.
Scottish transport giant FirstGroup will lead the first trial of driverless vehicles on public roads in the UK.
FirstGroup shares plunged 12% to 84.4p after a profit warning from the company yesterday.
FirstGroup chief executive Tim O’Toole hailed a master plan for Aberdeen city centre as potentially “very positive” as the transport giant reported first-half results yesterday.
FirstGroup chief executive Tim O’Toole has said the industry will work with Jeremy Corbyn - in the event of the Labour Party leader becoming prime minister - to “come to some sort of sensible arrangement” for running Britain’s railways.
Shareholder advisory group Pirc has urged investors in FirstGroup to vote down bosses’ pay deals at the company’s annual general meeting in Aberdeen on July 18.
The Aberdeen office of the Business Growth Fund (BGF) has signed off an £8.3million investment in a German bus operator.
FirstGroup chief executive Tim O’Toole enjoyed a small rise in his total pay package to £1.26million in the year to March 31, the Aberdeen-based transport giant’s latest annual report has revealed.
FirstGroup boss Tim O’Toole insisted yesterday the transport giant had no plans to relocate its headquarters from Aberdeen despite faster business growth across the Atlantic.
A joint-venture between Scottish transport giant FirstGroup and Italy’s Trenitalia is in the running to operate the East Midlands rail franchise.
Aberdeen-based FirstGroup has revealed it is keen to make a bid for the ScotRail franchise as pressure mounts on Dutch operator Abellio.
Bus manufacturers have road tested their latest products on a FirstGroup “race” track.
Dutch firm Abellio beat out rival First Group to land the East Anglia rail franchise from the Department for Transport (DfT).
The chairman of Scotland’s largest transport company has urged bosses to “put themselves in the shoes of customers” in order to tackle its shortcomings.
There is currently “no plan or prospect” of FirstGroup moving its headquarters from Aberdeen, despite there being no Granite City-based board members at the firm, chief executive Tim O’Toole said yesterday.
Scottish transport giant FirstGroup said yesterday it was too early to say what impact the UK’s decision to quit the European Union will have on the company.
Aberdeen-based transport giant FirstGroup has joined forces with Hong Kong’s MTR Corporation in support of its bid to run one of the UK’s busiest rail networks.
FirstGroup is readying itself for another battle over west coast intercity trains from Scotland to London.
FirstGroup has upset a rival Scottish transport giant with plans to compete with Virgin Trains on part of the east coast mainline rail route.
Scottish transport giants FirstGroup and Stagecoach Group are going head to head in the battle for a key rail franchise in England.
FirstGroup shares slumped nearly 12% to 90.05p yesterday after the transport giant issued a full year profits warning, pinning the blame on UK floods and a lack of US bus drivers.
FirstGroup said yesterday it had retained the Transpennine Express rail franchise, which links the largest cities in the north of England and Scotland, until at least 2023.