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MALCOLM BATES APPOINTED NEW LONDON TRANSPORT CHAIRMAN

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Malcolm Bates is to be the new chairman of London Transport and will receive about£80,000 a year for working a two...
Malcolm Bates is to be the new chairman of London Transport and will receive about£80,000 a year for working a two-day week, reported the Evening Standard (Jan 18).

He has been appointed to help environment secretary John Prescott raise£7bn from the private sector to refurbish the London Underground.

Sir Malcolm, who was knighted last year for his services to industry, has already conducted a wide-ranging review of private finance initiative schemes on behalf of Geoffrey Robinson, the former paymaster-general.

Peter Ford, the former chairman, was removed last year because he publicly disagreed with Mr Prescott's plan to lease the Tube's stations and track to between two or three private companies, the Standard reports.

Denis Tuncliffe, previously managing director of the Tube network, has been appointed chief executive of LT, and Derek Smith, chief executive at Kings College Hospital, will take over from Mr Tuncliffe in two weeks' time.
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