Secretary of state for transport Patrick McLoughlin has announced the appointment of Sir Peter Hendy as the new chairman of Network Rail. 

The announcement was made to Parliament during a statement on the delivery of Network Rail targets - and Sir Peter has been called to review the organisation's programme of rail investment and report back to the government on the matter in the autumn. 

Sir Peter delivered London's Olympic transport plan, and was praised by Mr McLoughlin as someone who brings a lot of experience to the role, which will be an asset to Network Rail in the coming months and years. 

Mayor of London Boris Johnson welcomed the appointment, noting that Sir Peter has overseen the biggest programme of investment in transport since the Victorian era.

"He delivered a near perfect transport plan during the Olympic and Paralympic Games and earned Transport for London the admiration of passengers from around the world," the mayor commented.