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National Bus chief quits: 'I can't liquidate'

8th March 1986, Page 3
8th March 1986
Page 3
Page 3, 8th March 1986 — National Bus chief quits: 'I can't liquidate'
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)RALE at the National Company's headquarters, .a.dy low as the company pares for privatised fragntation, has hit a new low h news of the early retireAlt of chairman Robert aok.

irook, who has opposed Government's plans to vatise NBC in parts rather n as a complete entity, is pping down on April 7, day the subsidiaries must rt acting at arm's length in the holding company.

le is being replaced by a -year-old retailing manager, executive director in the aolworths group, Rodney nd. His appointment is I-time and his brief is to solve NBC.

'inly last week, in an inview with the Financial mes, Brook said he was xtremely disappointed' that was not being sold to management in the same iy as the National Freight msortium was sold com plete in 1982.

He is convinced that this will leave the Government with no more than 1100 million for the sale of NBC, whereas an NFC-style sale would have nettedi.'200 million for the State.

And in his parting statement, he said: "My reasons are complex, but in short I have played so large a part in building the integrated and successful group which had developed by 1984 that I do not believe that I can successfully become its liquidator."

Fifty-seven-year old Brook has been with the bus industry for 36 years, became NBC's chief executive in 1977, deputy chairman in 1982 and additionally its chairman at the end of 1984.

While general manager of the North Western and Midland Red companies in the early Seventies, he presided over the sale of substantial parts of them to passenger transport executives.

He is retaining his directorship of the Scottish Bus Group, winch is not being privatised, and of United Transport International, the BET transport group tipped as a possible buyer of NBC subsidiaries.

Brook's successor helped restructure Woolworth when it was bought from its US parent in 1982, at one time was its joint managing director and was managing director of two of its lesser divisions, F. W. Woolworth Superstores and Woolco.

He was an executive director of the British Sugar Corporation from 1976 to 1982.

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