The incoming Chair of Network Rail will receive £500,000 for four days work per week in the first two years of appointment and then £300,000 for a minimum two-day week during the next two years. This is comparable to the pay of the incumbent Chair on a pro-rata basis. This is a contract for services and not a contract of employment. There will be no pension benefit and no bonus. In total the incoming Chair’s pay will be less than his overall salary package at Transport for London.
The role of Chair at Network Rail is a very significant leadership and delivery role. It comes with the challenge of recommending proposals for re-profiling the enhancements programme and taking clear responsibility for delivering it, at a time of strong passenger growth on the operational railway.