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The United Kingdom’s Office of Rail Regulation recently named Richard Price chief executive to succeed Bill Emery, who plans to step down in June.

Most recently chief economist and director of corporate performance for the U.K.’s Department for Environment, Food and Rural Affairs, Price has extensive economic regulation experience. He previously was a senior policy advisor for HM Treasury, and led the treasury’s enterprise and business team that developed an industry and enterprise policy placing government support for businesses on a more commercial basis.

Price will lead the ORR — an independent safety and economic regulator for Britain's railways — during “a period of change for the whole rail sector,” said ORR Chairwoman Anna Walker in a prepared statement.

“Richard has a deep understanding of regulation from a private sector commercial viewpoint, knows how markets work and has hands-on experience of leading complex change,” she said.

Price will assume the post in May and spend the first month “immersing himself in the rail sector,” said Walker. He also will join ORR’s board and serve a five-year term beginning in May.

The ORR also announced that non-executive directors Chris Elliott and Richard Goldson will depart the board when their terms end on March 31. In addition, the secretary of state for transport has reappointed Director of Rail Policy Michael Beswick to the board for a term expiring June 14, 2014.