New Tayside company
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FORMAL STEPS have been taken towards the formation of a public transport company to replace Tayside Region's transport department.
It is to be known as the Tayside Public Transport Company and has a share capital of V._ I million.
Lothian regional administration will not be nominating their own councillors as directors of the new company which will run Edinburgh's bus services from October.
Nine directors are likely to be appointed — one of them nominated from and representing the workforce.
The non-executive chairman of the new company is likely to be offered an annual payment of 1:10,000. Four other non-executive directors would be paid i'5,000.
The remainder of the board would be made up of three Cull-time executive directors.
South Yorkshire's PTE 's comMercial director, Peter Sephion, is to be managing director 01 the operating company being set up there, while West Midlands Pl'E. directorgeneral James Isaac is to be chairman of his PTE's company.