Arriva Group and I Squared Capital appoint Executive Chairman and Non-Executive Board Directors to Arriva

London / Miami – 28 October 2024 – Arriva Group and I Squared Capital today announced David Martin has been appointed Executive Chairman of the management board of Arriva, effective immediately.  Mike Cooper, the current CEO has decided to step down to pursue a portfolio career, including shortly starting work in the charity sector.

Most recently, David Martin was Chairman of FirstGroup plc, a UK-based train and bus operator. Before this, David served as CEO of Arriva for a decade where he oversaw the sale of the company to Deutsche Bahn in 2010. He stood down from that role in 2016.

In this new role as Executive Chairman, David Martin will oversee Arriva’s group strategy including Arriva’s planned EUR2 billion investment programme. David will also oversee the search process for a new CEO. In the interim, David will assume the CEO’s responsibilities until a successor is found.

Incoming Executive Chairman, David Martin, said: “I am delighted to be returning to Arriva at such a critical moment in the Group’s journey. Arriva’s commitment to delivering reliable and sustainable transport is unwavering, now backed by I Squared’s operational and strategic expertise and financial strength. I look forward to contributing to this next phase of growth.”

Commenting on the appointment, Mohammed El Gazzar, Senior Partner, I Squared, said: “David’s wealth of expertise in the bus and rail sectors, and existing knowledge of the business, will be invaluable to Arriva as we accelerate the Group’s sustainability and growth ambitions, including fleet decarbonization.”

The Arriva board is being strengthened by the appointment of three non-executive Directors: Guillaume Pepy, the former Chairman of SNCF, the French national railway and bus provider; Alexander Doll, the former Chief Financial Officer of Deutsche Bahn and former Chairman of DB Schenker, DB Cargo and DB Arriva; and, Simon Glass, who was previously Deputy Group Finance Director at RBS Group and Standard Chartered and currently serves as an Operating Advisor to I Squared and Non-Executive Director at TIP Group and EXA Infrastructure, both I Squared portfolio companies.

These appointments will bring a combination of extensive pan-European experience and deep transport sector insights and will offer a diverse set of complementary skills that align neatly with I Squared’s ambitious plans to drive Arriva’s growth and sustainability agenda.

Mike Cooper, CEO of Arriva Group, will be stepping down from his role. In the four years as Group CEO, Mike has provided consistently strong leadership at Arriva, guiding the company through the complexity of the pandemic, furthering the company’s sustainability goals and enhancing operational resilience. He leaves Arriva a financially stronger, more competitive business with sustainability at the heart of the Group’s ambition. Having successfully closed the sale of Arriva to I Squared, Mike will devote time to building a portfolio career, including work in the charity sector.

Mike Cooper, outgoing Arriva Group CEO said: “I have done what I came back to do - stabilise, turn around and sell Arriva to a credible new owner that will invest in the business and enable it to deliver on its potential. It has been a privilege to lead the Arriva team, and I am proud of what we have achieved together. I leave the company in a strong financial position from which I Squared and the new board can build. I wish them every success.”

David Brown, Managing Director, UK Trains, will retire at the end of November. David has led the UK Trains division over the past four years delivering for customers and clients through all contract types in use on Britain’s railway.  As Chair of the Rail Delivery Group and a Director of Rail Partners, David has also been an advocate for rail reform which delivers for both customers and the taxpayer.

ENDS

About Arriva Group

Arriva is a leading provider of passenger transport across Europe, employing around 34,400 people and delivering around 1.6 billion passenger journeys. With buses, trains, coaches, trams, waterbuses, bike-sharing systems, on-demand transport solutions and a rolling stock leasing company, Arriva proudly connects people and communities safely, reliably and sustainably across 11 countries, delivering these services in a better way, every day. The activities of Arriva are divided into four business units: UK Bus, UK Trains, The Netherlands and Mainland Europe. Arriva has passenger transport operations in the Czech Republic, Croatia, Hungary, Italy, the Netherlands, Poland, Slovakia, Slovenia, Spain and the United Kingdom, and also operates a rolling stock leasing company in Romania.

I Squared completed the acquisition of Arriva in June 2024, encompassing all of Arriva’s businesses across 11 European countries, including the UK.

About I Squared

I Squared is a leading independent global infrastructure investor with over $40 billion in assets under management. We are known for the development of investment platforms in infrastructure projects where we start small and grow big. We use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future to provide essential services to millions of people around the world. We are a team of over 280 people, headquartered in Miami with offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. We operate a diverse portfolio of 86 companies in more than 70 countries with over 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure. You can find out more by visiting: www.isquaredcapital.com.

Media enquiries for I Squared Capital:
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Fiona Micallef-Eynaud / Scott Durant

+44 207 404 5959

Media enquiries for Arriva Group:

Arriva Group Press Office                                   

+44 191 520 4106