The Railways Pension Trustee Company has appointed John Chilman (pictured) chairman.
He succeeds Derek Scott, who will retain his role as an employer director of the Railways Pension Scheme (RPS).
Chilman has been a trustee director of the RPS since 2007, and is currently director of reward and pensions at FirstGroup.
He has 20 years’ experience in the industry, including roles at PricewaterhouseCoopers, South Western Electricity, Shell and HBOS.
Chilman said: “I’m delighted to have received the support of my fellow trustee directors in electing me to chair the trustee board from 1 June 2014.
“I know that I have some big shoes to fill, and want to thank Derek for his leadership over the past seven years.
“I’m sure that the challenges facing pension schemes in the UK, and the RPS in particular, will continue, and look forward to facing these challenges head on, so that we can continue to offer affordable, sustainable and secure pensions for our members.”
Scott added: “I’m past halfway in my final six-year term of office, which ends in 2016, so this is an appropriate time to pass the baton over to [Chilman].
“I’ve been a trustee director for more than 16 years, seven of them as chairman. I know [Chilman] will enjoy the full support of the board in the challenges we face.”
Chris Hitchen, chief executive of the RPS’ administrator, RPMI, said: “[Scott] has made an invaluable contribution to the trustee company during turbulent financial times.
“In a period of rapidly changing pension provision in the UK, the trustee has successfully kept the scheme relevant to its many stakeholders, operating open final salary sections alongside high-quality defined contribution arrangements to meet employers’ and employees’ differing needs.”