Last checked at 1 Feb 2023 07:00
Severn Trent Plc - CFO Retirement and Succession
Severn Trent Plc (the 'Company') today announces that James Bowling has informed the Board of his decision to retire as Chief Financial Officer ('CFO') and Executive Director of the Company in July 2023. James, who joined Severn Trent in April 2015, is retiring from executive roles to pursue a non-executive director career.
The Board also announces that following a rigorous internal and external search and selection process, Helen Miles, currently Capital and Commercial Services Director at Severn Trent, has been selected to succeed James as CFO.
Helen joined Severn Trent in November 2014 as Chief Commercial Officer, and in 2020 became the Group's Capital and Commercial Services Director as well as the CFO of our Welsh regulated Company, Hafren Dyfrdwy. Helen has extensive CFO experience in the regulated utilities sector, having previously held the role at Openreach, part of BT Group Plc, and having served as CFO and Board member of Homeserve UK. She is currently a Non-Executive Director and member of the Audit and Risk Committee at Breedon Group plc.
Helen will be appointed an Executive Director of the Company on 1 April 2023 and will have the title CFO Designate. James will remain an Executive Director of the Company and Severn Trent's Chief Financial Officer until the AGM on 6 July 2023, at which point Helen, having completed a full handover process, will take on the responsibility.
Dr. James Jesic, Director of Customer Operations, will take over Helen's responsibilities as Capital and Commercial Services Director and a search is underway to select his successor. He will continue as Managing Director of Hafren Dyfrdwy.
Liv Garfield, Chief Executive Officer, said: "I am truly sorry to see James retire. I want to thank him for everything he's done for Severn Trent and all the support he has given to me personally. His fantastic work ethic, wise counsel and intellect have been invaluable. James has been instrumental in driving the success of Severn Trent since his appointment in 2015 and he leaves us well positioned for the future.
"I am absolutely delighted that Helen will be his successor. Helen is a highly experienced and commercial CFO with a detailed understanding of the water sector and a proven track record of exceptional delivery. Helen embodies our culture and values and has been instrumental in so many of our major initiatives over the last eight years. I look forward to continuing to work with her on the opportunities ahead in her new role."
Christine Hodgson, Chair, said: "On behalf of the Board I'd like to express our appreciation for the excellent contribution made by James during his tenure as CFO. With his strategic insight gained from multi-sector experience, he has played a pivotal role in the success of the business and is a much-valued colleague. We wish him the very best in the next chapter of his career.
After a thorough search process, we're pleased to have chosen Helen to succeed James against a strong field of candidates. She is a CFO of exceptional calibre, possessing strong finance and regulatory accounting experience, gained over many years. We are delighted that James Jesic will succeed Helen as Director of Capital and Commercial Services, demonstrating the strength of talent we have across Severn Trent."
The Company confirms that there is no other information to be disclosed under the requirements of Listing Rule 9.6.13R in relation to these appointments.