Gilbert steps down as chairman of struggling FirstGroup amid rights issue

Martin Gilbert, the chief executive of Aberdeen Asset Management, has announced he is to resign from his role as chairman of beleaguered transport business FirstGroup, on the day the group also announced it is undertaking a rights issue.

Gilbert (pictured), who is also director of BSkyB, has served as chairman of the group since 1995. He said in a statement: "When this project is complete, I intend to step down as chairman once a successor has been identified. "I have led the business for 27 years, from start-up to its current position as one of the world's great transport groups, and I am extremely proud of what we have achieved at FirstGroup in that time. "I shall be sorry to leave, but I'm pleased that this fund-raising will open the way to the next stage of FirstGroup's development." His resignation comes at...