New chairman for NFC
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• NFC will have a new chairman by Christmas, probably before a chief executive is appointed.
In the second top management change within two months, NFC chairman James Watson is retiring; the new chairman will be Sir Christopher Bland, the former head of London Weekend Television. Bland, 56, will earn £200,000 a year for working a three-day week.
A media industry observer describes him as "extremely competent and very well respected". Bland is expected to be involved in choosing a chief executive to replace Peter Sherlock who resigned in August following a boardroom row (CM 25-31 August).
Bland will be expected to improve NFC's image in the City following recent disappointing pre-tax profits, One transport analyst says: In the past two years NFC's reputation has flagged. Sir Christopher has got to focus the company on where it's going. He's got to get people thinking it's a good quality company."