QR National to be known as Aurizon
QR NATIONAL will begin disappearing from December 1, but it will take years for the multi-billion dollar rail firm to evolve completely into Aurizon.
Shareholders at the company's Annual General Meeting this week overwhelmingly backed the name change from QRN to Aurizon Holdings Limited - a portmanteau of Australia and horizon.
Chief executive Lance Hockridge told the meeting the name was about clarity, separating the national freight business from its government-owned namesake.
"While our origins will always be in Queensland, it is important to have a name that better represents who we are today and aspire to be in the future.
"In our view, Aurizon encapsulates these qualities."
More than 99% of investors backed the plan.
However, they were less positive about granting $18.8 million for QR National's top nine executives, including more than $4.5 million for Mr Hockridge.
It passed even as 14% of stakeholders opposed the plan - 25% opposition creates a "first strike" that has the potential to force a change in board members if the resistance continued.
The $2 million to be spent on rebranding will begin with QR National's shopfronts and desks that deal with the public.
Its orange, red and yellow logo will remain, so the lonely symbol on the front of its locomotives will remain.
Those still sporting the iconic maroon and white QR letters will eventually be covered by a new decal.