HS2 Chair to step down as costs for project continue to rise

Sir Jon Thompson, the Chair of HS2 Ltd, has announced his intention to step down from his position in the spring of 2025. After nearly four years on the board, Sir Jon will be leaving as the project enters a new phase under the leadership of newly appointed CEO Mark Wild.

Thompson will leave his role just under two years after taking up the helm in February 2023. Before that, Thompson had sat on HS2 Ltd’s board. He also assumed the role of chief executive after the resignation of Mark Thurston in September 2023, running the company until Wild’s appointment.

During his tenure, Sir Jon has been overseeing the construction of the infrastructure for the high-speed railway and has seen costs continue to rise. A recent report estimates that it could cost up to £66 billion, which is an increase from last year’s estimate of between £49bn and £57bn.

Transport Secretary Heidi Alexander expressed gratitude for Thompson’s contributions, adding, “He has provided strong leadership during challenging times for the project, and we are grateful for his service.

“With the appointment of a new CEO and an incoming new Chair, HS2 will see new leadership next year, tasked with gripping budgets and schedules and delivering the line as cost-effectively as possible for passengers and taxpayers.”

Wild has been tasked with bringing costs under control, with Alexander tasking him with undertaking an assessment of the current position of the project including its cost, schedule, capability and culture.

An independent review was launched by the former Transport Secretary Louise Haigh in October, to delve into HS2’s spiralling costs and “bring the project back on track”.