The chairman of Aberdeen-based FirstGroup has said the company is on track to restore its fortunes.
Martin Gilbert was reaffirmed in his position at the firm’s AGM, despite pressure to quit from some shareholders following criticism of the company’s performance.
FirstGroup’s share price has dropped significantly but Mr Gilbert was backed by 92% of shareholders to remain in his post.
Mr Gilbert said: “I’m obviously disappointed that even 8% voted against me but it was the same as last year.
“We all know when a company is going through a tough time you are going to get people voting against you. They own the company so they have every right to. I’m generally happy but I would obviously prefer if nobody voted against me.
“I think we are at a turning point. Most of the bad news is out and in Tim O’Toole we have a very able CEO and I think he is doing all the right things to turn around UK Bus.
“We are the biggest operator in the UK and I think his plan, to focus on companies we can get a good return from, is exactly what we should be doing.”
The Aberdeen-based transport firm is a huge global player, operating school buses in North America, the iconic Greyhound coaches, a quarter of the UK's rail network and carrying more than two million passengers a week on their UK bus operation.
First Group’s CEO Tim O’Toole added: “It’s been a challenging year for the company. We have gone through very difficult trading conditions in the second half of the year – notwithstanding that four of our five divisions have performed very well.
“UK Bus has been challenged and we have said that the way we are going to turn it around is by following a plan we set out a year ago – we just have to move it along a bit faster.”
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