Last checked at 9 Dec 2015 07:00
PENNON GROUP PLC
9 December 2015
APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER
Sir John Parker, following his appointment as Chairman on 1 August 2015, has been conducting a review of the corporate structure of the Pennon Group. He and the independent Non-Executive Directors have come to the view that the future management and oversight of the Group would now be better served through the creation of the new role of Group Chief Executive Officer. The Nomination Committee and the Board of Pennon Group support this view and the Board is now pleased to announce the promotion of Christopher Loughlin to the position of Group Chief Executive Officer with effect from 1 January 2016. Chris is currently the CEO of South West Water and an Executive Director of the Pennon Group Board.
As a consequence the Board has agreed to appoint Dr Stephen Bird, who is the existing Chief Operating Officer of South West Water, to the position of Managing Director of South West Water.
Sir John said "I welcome Chris as our new Group CEO. He has a wealth of experience gained in his role as CEO of South West Water for the last nine years and previously in a number of positions including being chief operating officer with Lloyds Register, an executive director of British Nuclear Fuels Plc and executive chairman of Magnox Electric Plc. I am sure he will provide strong management from a Group perspective and successfully lead the Group in its future strategic development."
For further information please contact:
Sarah Heald | Head of Investor Relations - Pennon | } | 01392 443 401 |
James Murgatroyd Faeth Birch | Finsbury | } | 0207 251 3801 |