National Express hires Ignacio Garat as CEO

National Express has appointed former FedEx executive Ignacio Garat as its chief executive, ending a four-month search for a new boss.

Garat will take over as CEO on 1 November from interim boss Chris Davies, who will remain in his job as finance director. Davies has overseen the company since the end of August when Dean Finch left. Finch's departure was announced in June.

The FTSE 250 company said Garat was until recently senior vice president for southern Europe, France and Benelux at FedEx. National Express said he had a record of reorganising businesses with a stress on safety and using technology to improve.

Garat was made CEO of Tuffnells in May after Connect Group disposed of the parcels business but he quit in July. He will take over at National Express with the bus group dealing with disruption caused by the Covid-19 crisis.

National Express Chairman John Armitt said: "Ignacio has the extensive international operational and strategic experience to lead National Express Group through the challenges presented by the pandemic, as well as the significant future opportunities that exist."

Finch left earlier than expected to run Persimmon after initially agreeing to stay until the end of 2020.