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Rail CEO quits after crash
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October 18, 2000: 6:36 a.m. ET
Boss of UK's Railtrack offers to resign following 4 deaths in train accident
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LONDON (CNNfn) - Gerald Corbett tendered his resignation as chief executive of Railtrack PLC Wednesday, in direct response to a rail accident that claimed four lives just outside London Tuesday.
Railtrack said it would consider whether to accept Corbett's resignation when its board meets later Wednesday. Railtrack is the owner and operator of the vast bulk of Britain's rail lines, signaling and stations, responsible for providing a safe infrastructure for rail services.
"I, personally, am distraught that another tragedy has occurred on our railways," Corbett said in a statement. "The families of the bereaved are foremost in my mind."
The fatal accident, whose cause has not yet been established, occurred almost exactly a year after two trains collided near Paddington station, west London, killing 31 people.
Railtrack (RTK) shares slipped 0.5 percent to 1,016 pence in London after the news of Corbett's resignation offer, having tumbled 8 percent Tuesday in the wake of the crash.
The train that crashed was operated by Great North Eastern Railways, a subsidiary of Bermuda-based Sea Containers. 
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