Moir Lockhead was recognised at Buckingham Palace for his services to transport.

FirstGroup chief executive Sir Moir, 63, said later: “It is a great honour for me and I was extremely proud that my family joined me at today’s ceremony. FirstGroup has come a long way in a short time to become the leading transport operator in the UK and North America.

“During that time it has been my privilege to lead a team of talented, hard-working and dedicated people.” At the end of last year, FirstGroup was elevated to membership of the prestigious FTSE 100 index, the first Aberdeen company to join the ranks of the biggest listed businesses in Britain.

FirstGroup operates over 80,000 buses and employs more than 135,000 staff in the UK and North America. Just last month, it hailed the success of its Greyhound coach arm in North America.

The company acquired US firm Laidlaw and its iconic Greyhound coaches for £1.9billion just over a year ago. FirstGroup now carries about 2.5billion people a year on its buses and trains.

Sir Moir was brought up in the mining village of West Cornforth, near Sedgefield, County Durham.

When he left school at 15 to become an apprentice mechanic, he could not have imagined where he would end up.

Sir Moir’s upward career path eventually took him to Grampian Transport in 1985 as general manager.

In 1989 came the £5.5million employee-management buyout of the business, which at the time had a fleet of 200 buses, 500 staff and an annual turnover of less than £15million. That was the forerunner of FirstGroup.

Sir Moir and his wife, Audrey, sons Gary, Stuart and Sean and daughter Claire have always felt at home in Scotland.

He and his wife live on their farm at Glassel, between Banchory and Torphins. Lady Lockhead and daughter Claire run the 450-acre farm.

The FirstGroup chief executive is proud of the farming venture, at the core of which are about 230 Aberdeen-Angus cattle. There are also about 25 Highland cattle.