Angel Trains’ Chief Financial Officer George Lynn has announced he is to retire from the company having worked there since it was created in 1994. During his 18-year career at Angel Trains, George has overseen many successful developments within the company including its inception at the time of British Rail privatisation, three changes of ownership, raising over £6.5bn in finance for the business and the development and subsequent separation of the international side of the business.
He also played a key role in events that have led to Angel Trains becoming the leading asset manager in the UK, including the introduction of the Pendolino fleet on the west coast and the replacement of slam door trains with the Desiro fleet which has become the most reliable train fleet in the UK.
More recently, he played a key role in the successful refinancing of the company’s long-term debt, diversifying its sources of finance and its debt maturity profile, securing a healthy long-term financial base for Angel Trains Group to raise finance to invest in UK Rail.
Malcolm Brown, Chief Executive, says: “George has made an enormous contribution to the company over the years and played a vital role in shaping Angel Trains as the strong business it is today.
“He was instrumental in the development of Angel Trains in the early years of privatisation and in its growth to become a major rolling stock asset manager in the UK. I would like to take the opportunity to thank him for his hard work and commitment and wish him well in the future.”
George adds: “I have enjoyed all the challenges that have faced me at Angel Trains, from the initial preparations for privatisation through to concluding the recent refinancing, and I have had a wonderful privilege to work with such an array of talented colleagues in this time.”
George will be stepping down at the end of May to move into a new phase of his extensive career providing executive coaching. This will keep him in contact with colleagues in the rail and leasing sectors in the future.
Current Group Financial Controller Alan Lowe will take over as CFO.
Speaking of his new role Alan says: “I’m taking over at the start of a really exciting and busy period for the company and am looking forward to the challenges ahead.
“There are lots of pressures coming to bear over the next few years in the rail industry and I will be able to play a vital role in securing the long-term financial shape of the company.
“As well as the re-leasing, we will be focusing on providing value for money from our rolling stock. We have to ensure the proportion of assets on lease remains at a high level and pursue opportunities to grow the business with additional new stock. The focus will be ensuring that Angel Trains continues to deliver strong customer services, both technically and commercially.”
Malcolm adds: “We are looking forward to welcoming Alan to the senior executive team. We have a strong Board and group of shareholders in place which will create a solid platform for us to face the challenges ahead. With Alan’s help we can continue making a constructive contribution to the UK rail industry by reducing costs and helping to drive innovation in rolling stock procurement and whole-life asset management.”