Press Release
Mayor and Commissioner introduce new Managing Director of London Underground
7-2-2003 ID12
The new Managing Director (designate) of London Underground Ltd, Tim O'Toole, was today introduced to Londoners by Mayor of London Ken Livingstone and Commissioner of Transport for London Bob Kiley.
Tim O'Toole will officially become the Managing Director of London Underground when the Mayor and Transport for London (TfL) assume responsibility for the Tube, expected to be this Spring.
Speaking at City Hall today the Mayor said: "I'm delighted to welcome Tim O'Toole to London. We've searched the world and found the best person to work with Bob Kiley to deliver what Londoners so desperately need - a better Tube.
"Tim comes to the capital with a proven track record of running a successful railway. Rehabilitating the London Underground, particularly within the confines of the Government's Public Private Partnership (PPP), will be no easy task and Londoners should not expect to see improvements overnight.
"But if anyone's experience has prepared them for the challenge of turning around London Underground, it is Tim O'Toole's."
Also speaking at City Hall today, Tim O'Toole said:
"It will be an honour to join London Underground.
"My first tasks will be to study and understand the PPP contracts and to look at the Tube's safety regime, with the help of my future London Underground colleagues.
"Then we can start work on the long track back towards making London Underground the best metro system in the word. I am sure the many excellent staff who work on the Tube want to see that too."
Until he takes up his new post, Tim O'Toole will be preparing for the challenging task of leading London Underground under the PPP structure, and will soon announce his top management team.
Welcoming Tim O'Toole to his new post, London's Transport Commissioner, Bob Kiley said: "I am very pleased to welcome Tim O'Toole, a world class transport manager, to London Underground.
"The Tube faces a challenging period in its history, but Tim has all the skills and qualities needed for the task ahead."
Notes to Editors
1 Tim O'Toole is 47 and comes from Philadelphia.
2 A biography accompanies this press notice.
Tim O'Toole
Managing Director (designate)
London Underground Ltd
Transport for London
Windsor House
42-50 Victoria Street
London
SW1H 0TL
SUMMARY:
Until 2001, Tim O'Toole (47) was the Chief Executive of an $8bn US railroad company, with $3bn in annual revenues, and successfully led the company through post-acquisition restructuring.
A proven business leader with a successful record of leading public and private entities, Tim O'Toole has leadership, legal, financial and transport management experience at the top level internationally.
PROFESSIONAL EXPERIENCE:
Consolidated Rail Corporation, Philadelphia, PA.
President and Chief Executive Officer 1998 to 2001
* Led Conrail to its safest and most profitable year as a Class 1 US
railroad in 1998, notwithstanding the hostile takeover of the company.
Senior Vice President-Law & Government Affairs 1997 to 1998
* Member of executive management team charged with developing an
executing corporate commercial and strategic objectives.
* Senior member of negotiating team for $10bn merger with Norfolk
Southern and CSX.
Senior Vice President-Finance and Chief Financial Officer 1996 to 1997
* Senior corporate representative to public investor community, both
domestically and internationally.
* Corporate liaison to industry analysts and rating agencies.
* Advisor to Board of Directors on strategic and financial
initiatives, including the company's proposed merger with CSX.
* Responsible for all areas of Finance, including Controller's Office,
Auditing, Treasury, Financial Planning, Tax and Corporate Secretary.
Vice President and Treasurer 1994 to 1996
* Responsible for corporate and management banking functions.
* Developed and implemented Investor Relations strategy.
* Responsible for corporate capital structure, including public and
private debt and equity issuances and equipment finance.
* Merged tax department, pension fund investments, and risk
management.
Vice President and General Counsel 1989 to 1994
* Managed fifty-member legal and claims department with $25m annual
outside counsel budget.
Corporate / Commercial Attorney 1980 to 1989
Assistant to the President 1984 to 1985
EDUCATION:
University of Pittsburgh School of Law, Pittsburgh, PA 1980
LaSalle University, Philadelphia, PA B.A. English Literature Maxima Cum
Laude 1977
AFFILLIATIONS:
YMCA of Philadelphia & Vicinity, Board of Directors Support Center for Child Advocates, Child Advocate, Board Member and Officer Admitted to the
Pennsylvania Bar
FAMILY:
Tim O'Toole is married to Patricia, and has two children, a son Charlie (16) and daughter Elizabeth (15).
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