Severn Trent chairman stepping down
Severn Trent Water's chairman is to step down once his successor has been found.
Andrew Duff has been in post since July 2010.
The board of the Coventry-headquartered water company has started the process to find a successor.
“It is a real privilege to serve as chairman of Severn Trent and it has been a pleasure to oversee the company’s progress over the last nine years. As we prepare to implement our new business plan, following selection as one of only three companies awarded Fast Track status by Ofwat, I believe this is the right moment to step down and allow a new chairman to lead the doard into this important next phase for Severn Trent.”
Senior independent director Kevin Beeston, is overseeing the process ahead of making a formal recommendation to the bBoard.
“Severn Trent has achieved a great deal for its stakeholders under Andy’s leadership, demonstrated by delivery of strong shareholder returns and outperforming our peers and the FTSE 100," he said.
Severn Trent chief executive Liv Garfield said “I’d like to say a massive thank you to Andy for all his wise counsel and support over the years we’ve worked together. It’s been an absolute delight working with him since I came in as CEO five years ago and I wish him well with whatever he chooses to do next.”
Mr Duff will be standing for re-election at the company’s annual general meting on July 17 and will remains as xhairman until the announcement and induction of his successor.