Rail freight group QR National is planning to change its name to Aurizon
September 18, 2012
Rail freight group QR National is planning to change its name to Aurizon.
CEO Lance Hockridge says the name change is the “logical” next step in the company’s transformation, with the new name being a combination of Australia and Horizon to convey the geographical scope of the brand expanding operations.
Hockridge says the QR prefix adopted when the business separated from Queensland Rail has caused confusion in the marketplace.
“The similarities in our company names have made it difficult for financial market participants, different levels of government, the media and the general public to distinguish between the services offered by each company,” he says.
“We believe changing the company name will help address this problem and signify a symbolic break from legacy issues of the past, while still retaining the history and knowledge that has served our company so well over the past 147 years.
“While our Queensland operations will always be the company’s foundation asset, and intrinsically tied to our future success, this new name makes a clear statement about our growing Australia-wide footprint and growth aspirations.”
Shareholders will be asked to approve the change at the company’s annual general meeting on November 7. Under the proposal, the company’s logo and corporate colours will remain unchanged to preserve brand equity.
