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New directors are expected to revitalise road transport
Page 13
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FRESH BLOOD IN the boardrooms of a quarter of the top 2,000 transport operators could signal a radical shake-up of business practices in the industry, according to a report from Plimsoll Publishing.
The firm studied the 1,035 new appointments made at director level in the past 18 months in an industry that has a total of 4500 directors in all.
Analyst David Pattison reports that a number of these directors have been brought in to oversee management buyouts or company disposals.
He believes the fresh talent will revitalise an industrycharacterised by ageing directors. "This wave of new blood is simply the start,says Pattison."More than a quarter of [transport company] directors are over the age of 60 and we'll see yet more evolution in the not too distant future."
Plimsoll predicts that increasing pressure will be put on those companies that retain ageing directors and fail to adopt new methods and approaches to the market.
Interviews with the new directors revealed that 153 see their primary task as keeping their companies afloat, while 882 list their chief challenge as delivering class-leading performance. • The average salary of a director in road haulage was 249,416 in 2006, compared with 268,500 in UK industry as a whole.
• Director's fees in the road transport industry increased by an average of 6%.
• Top earners' pay rises to more than £142,000 a year.
• The typical time in office in road transport is just six years, even though many directors in family haulage firms remaining in place for their whole careers.