New Eurotunnel chairman named

BOURGUIGNON: Strength in tourism
BOURGUIGNON: Strength in tourism

PHILIPPE Bourguignon will be appointed chairman of the Eurotunnel Joint Board from October 29, when Charles Mackay is due to retire.

Subject to his election at the forthcoming Annual General Meetings, Mr Bourguignon will initially be appointed chairman of Eurotunnel SA, the French company of the bi-national group, and vice-chairman of the Eurotunnel Joint Board. After a six-month transitional period, he will replace Mr Mackay as chairman of the Eurotunnel Joint Board.

Mr Mackay said: "I am delighted that Philippe Bourguignon is joining us to reinforce our Board of Directors. With the company facing a critical period, Philippe Bourguignon's appointment will further strengthen the already very bi-national make-up of the Board.

"Philippe Bourguignon is a good communicator with excellent personal skills. He has the ability to unite people around ambitious projects, and to foster a company's international expansion and renown."

Richard Shirrefs, who will remain as chief executive of Eurotunnel SA and Eurotunnel plc, added: "I am convinced that the appointment of Philippe Bourguignon will be a major asset and that with him, we will succeed in meeting the challenges which confront us."

With a strong background in tourism and corporate restructuring, Mr Bourguignon's appointment reinforces Eurotunnel's plan to find a long-term solution to their financial problems in the form of its Galaxie Project, which seeks to address the structural problems of the cross-Channel rail industry.

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