Published Monday, 10 December, 2007 at 06:31 PM
Minister for Transport, Trade, Employment and Industrial Relations
The Honourable John Mickel
QR structure announcement & senior appointments
Minister for Transport John Mickel today welcomed the announcements by QR for a major restructuring of the corporation to improve its service, competitiveness and performance.
QR also made a range of appointments to support the restructure, including private-sector appointee, Deborah O’Toole as the new Chief Finance Officer.
“QR is an iconic Queensland business with annual turnover of $3 billion and assets worth $10 billion,” Mr Mickel said.
“It makes a significant contribution to the Queensland economy. The proposed restructure will improve customer service, commercial and safety focus and returns on the State’s investment,” he said.
“Earlier this year, the Government asked the Board to examine future options for QR.
“QR is developing its internal capabilities and has engaged expert, independent consultants to assist it in examining all facets of the business.
“It was clear that, as well as addressing the concerns some customers had with QR’s performance, QR needed to look at how it is positioned for the future.
“I have informed the Chairman of QR, Mr John Prescott, that the Board has the support of its shareholders to implement the structural changes that will support its performance and growth.”
Minister Mickel noted QR would continue to work with relevant stakeholders including employees and unions.
“Initially it is agreed that a proposal is progressed to restructure QR into specific business entities to provide improved focus and outcomes for each of QR’s freight, passenger, network infrastructure and rail services businesses,” Mr Mickel said.
“QR’s outlook has been underpinned by this Government’s major investment in rail now and into the future. More than $1 billion will be spent on upgrades and improvements each year for the next five years.
“The expenditure will improve passenger services and freight services. Major infrastructure projects such as the Southern Missing Link in the Surat Basin and the Northern Missing Link in the Bowen Basin will present enormous opportunities for regional economies.
“Now is the right time for QR to re-shape the business to capitalise on population growth and on the exciting opportunities presented by the resources and export boom across the nation including increased demand for passenger transport services and infrastructure.”
Media contact: Chris Brown (07) 3237 1944 or Nathan Moir 3235 4060
December 10, 200
QR also made a range of appointments to support the restructure, including private-sector appointee, Deborah O’Toole as the new Chief Finance Officer.
“QR is an iconic Queensland business with annual turnover of $3 billion and assets worth $10 billion,” Mr Mickel said.
“It makes a significant contribution to the Queensland economy. The proposed restructure will improve customer service, commercial and safety focus and returns on the State’s investment,” he said.
“Earlier this year, the Government asked the Board to examine future options for QR.
“QR is developing its internal capabilities and has engaged expert, independent consultants to assist it in examining all facets of the business.
“It was clear that, as well as addressing the concerns some customers had with QR’s performance, QR needed to look at how it is positioned for the future.
“I have informed the Chairman of QR, Mr John Prescott, that the Board has the support of its shareholders to implement the structural changes that will support its performance and growth.”
Minister Mickel noted QR would continue to work with relevant stakeholders including employees and unions.
“Initially it is agreed that a proposal is progressed to restructure QR into specific business entities to provide improved focus and outcomes for each of QR’s freight, passenger, network infrastructure and rail services businesses,” Mr Mickel said.
“QR’s outlook has been underpinned by this Government’s major investment in rail now and into the future. More than $1 billion will be spent on upgrades and improvements each year for the next five years.
“The expenditure will improve passenger services and freight services. Major infrastructure projects such as the Southern Missing Link in the Surat Basin and the Northern Missing Link in the Bowen Basin will present enormous opportunities for regional economies.
“Now is the right time for QR to re-shape the business to capitalise on population growth and on the exciting opportunities presented by the resources and export boom across the nation including increased demand for passenger transport services and infrastructure.”
Media contact: Chris Brown (07) 3237 1944 or Nathan Moir 3235 4060
December 10, 200