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OUT: Retirement for Horton

RAILTRACK CHAIRMAN Sir Robert Horton is to retire in August when he reaches the age of 60.

Gerald Corbett, who will remain as chief executive, is not expected to take over the chairman's role. A Railtrack spokesman said that Horton's replacement was likely to be 'someone from outside the business'.

Horton oversaw the transformation of Railtrack from a publicly owned body to a privatised company between 1994 and 1996.

He had previously served as vice chairman of British Railways Board and as chairman of BR's Railtrack division.

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