graphic
News > International
Rail CEO quits after crash
October 18, 2000: 6:36 a.m. ET

Boss of UK's Railtrack offers to resign following 4 deaths in train accident
graphic
graphic graphic
graphic
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. Back to top

  RELATED STORIES

Railtrack aims to spend big - Mar. 30, 2000

  RELATED SITES

Experts probe train crash - Oct. 18, 2000

Railtrack


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.