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PRIVACY
Enterprise

10 questions for Philip Smith, CEO of TT2

Mr Smith leads the Tyne Tunnel operators TT2 and is the latest business leader to take on our questionnaire

Philip Smith of TT2(Image: IAN McCLELLAND/TT2)

What was your first job (and how much did it pay)?

I started as trainee in a railway maintenance office in Perth – I remember it paid £4,000 a year which seemed like a fortune to an 18-year-old, just out of school. However, I had to work every other Saturday night out on sites and didn’t get paid for that. I vividly remember how cold the Scottish Highlands get in the middle of winter. I was sent to Perth because the London-based manager who recruited me thought it was near Lancashire where I lived!

What is the best advice or support you’ve been given in business?

Two pieces of advice – the first, simple one is “always have a Plan B”. That has proven incredibly valuable to me when Plan A starts to go wrong. It is too easy to have an outcome that you want and simply invest everything on the assumption everyone will agree. The second is to recruit and develop the strongest team around you that you can. They are the people that will make you successful, so don’t be afraid to admit if you’ve got it wrong, or to go back to the market if you haven’t found the right candidate.

What are the main changes you’ve seen in your business/sector, and what are the challenges you’re facing?

The world of tolling is going through multiple revolutions as internet and computer technology transform how we interact with customers. Before implementing Open Road Tolling last November, we saw the number of journeys paid by cash drop by over two-thirds over the space of just three years. I believe that within a few years car manufacturers will develop smart technology in cars to deal with payment of tolls, car parking and other road charges – and that will change our technology approach at the Tyne Tunnels again. And down the road (sorry), it’s inevitable that Road Charging will be coming in despite all the opposition when it was mooted 15 years ago.

How has the pandemic changed the way you work?

I’ve always worked ‘hybrid’ – taking some time away from the office where I need the mental space to address some things, being in the office to temperature check how my team is. However, it was one of the few positives from Covid that many more people felt comfortable they could do the same, and so we have been able to become a much more people-friendly business with several staff working highly-personalised patterns that are very specific – and so very important - to them and their needs. I think that’s great; they have become fiercely loyal employees and both of us win massively out of the arrangement.