 At the grouping in 1923 he became deputy chairman of the new London, Midland and Scottish Railway Company and was its chairman 1924–1927.As at the Midland, his appointee, this time Sir Josiah Stamp as President (chairman and chief executive), was crucial in the modernization of the company's management.Granet was knighted in 1911 as a Knight Bachelor and created GBE (Knight Grand Cross of the Order of the British Empire) in 1923.