REG - National Grid PLC - National Grid plc announces CEO succession plan

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RNS Number : 9313G  National Grid PLC  01 May 2025

01 May 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

FOR IMMEDIATE RELEASE

 

National Grid plc announces Chief Executive Succession Plan

 

National Grid plc ("National Grid"), a leader in energy networks, is pleased
to announce the appointment of Zoë Yujnovich as its next Chief Executive. She
will succeed John Pettigrew who, after almost 10 years in post, has decided to
retire from his role effective 16 November 2025.

 

Following a comprehensive succession planning process both the Board and John
believe it is the right time to transition leadership at National Grid. Zoë's
proven track record makes her ideally qualified to guide National Grid into
its next phase of growth.

 

Zoë will join from Shell plc ("Shell") where she was, until recently,
Integrated Gas and Upstream Director and a member of the Executive Committee.
Prior to Shell, Zoë held a number of progressively senior roles at Rio Tinto,
including President and Chief Executive of the Iron Ore company of Canada. She
has recently joined the board of Unilever plc as a Non-Executive Director.

 

Zoë will join the National Grid Board as Chief Executive Designate on 1
September 2025 and will be appointed Chief Executive on 17 November 2025. John
will retire from the Board of Directors and his role as Chief Executive on 16
November 2025, enabling a seamless transition and orderly handover of
responsibilities.

 

John joined National Grid as a graduate in 1991. During his time at the
company he has held a variety of senior roles, including UK Director of
Engineering, Chief Operating Officer and Executive Vice President for the US
Electricity Distribution & Generation business, Chief Operating Officer
for UK Gas Distribution, and UK Chief Operating Officer, joining the National
Grid Board as Executive Director, UK in 2014. He became Group Chief Executive
in 2016.

 

Paula Reynolds, Chair, National Grid, said:

 

"The Board and I would like to thank John Pettigrew for his commitment and
invaluable contribution to National Grid over the last three decades. His
leadership as Chief Executive has been exemplary, driving the Group's
strategic transformation, enabling the energy transition and delivering
significant shareholder value. He will leave the Group in a strong financial
and operational position to deliver on the exciting growth opportunity ahead.

 

"We are delighted to have found such a talented and worthy successor in Zoë
Yujnovich, someone who is highly regarded in, and has wide experience of, the
energy sector. An internationalist in outlook, she has a strong sense of
purpose and is an inspiring leader. Further, she will arrive with a notable
track record of delivering complicated, large scale capital projects in
complex political environments.

 

John Pettigrew, Chief Executive, National Grid, said:

 

"It has been an immense honour for me to lead the company I joined as a
graduate. All that I have achieved has only been possible because of the many
talented people I have had the privilege to work with and learn from.

 

"With our position as a leader in energy networks across the UK and US
assured, we are well placed to take advantage of the growth opportunities
ahead. I am delighted to hand over to Zoë Yujnovich who has all the
attributes required to deliver on the significant growth opportunity ahead and
to guide National Grid on the next stage of its journey.

 

"There is still much to deliver before I retire from my role in November.
Until then I remain fully focussed on ensuring we don't miss a beat and that I
leave National Grid in the strongest possible position."

 

Zoë Yujnovich, Chief Executive Designate, National Grid said:

 

"I am honoured to have been selected as National Grid's next Chief Executive.
I look forward to building on the tremendous work of John Pettigrew and
everyone at National Grid in establishing it as a world-leading business with
the strongest of foundations.

 

"I firmly believe in the vital function energy companies play in driving
change and creating value. On both sides of the Atlantic National Grid has an
essential role to play in making energy secure, affordable and reliable for
our customers and communities.  I'm excited about leading National Grid as it
delivers on the growth opportunities ahead."

 

Ends

 

Enquiries and contacts:

 

Media

Andrew Brown, Apella Advisors   +44 (0) 7721 513 777

Danielle Dominey-Kent                  +44 (0) 7977 054 575

 

Investors and Analysts

Angela Broad                                    +44 (0) 7825
351 918

Tom Edwards                                    +44 (0) 7976
962 791

Cerys
Reece
+44 (0) 7860 382 264

Notes

 

This announcement is being made pursuant to Listing Rule 6.4.6R.

 

There are no other matters to be disclosed under Listing Rule 6.4.8R in
relation to Zoë Yujnovich's appointment.

 

The person responsible for making this announcement on behalf of National Grid
plc is Julian Baddeley, Group Company Secretary.

 

About National Grid plc

 

National Grid lies at the heart of a transforming energy system, spanning the
UK and the US. Our businesses supply gas and electricity, safely, reliably and
efficiently to millions of customers and communities. But we also drive change
through engineering innovation and by incubating new ideas with the power to
revolutionise our industry.

 

National Grid is pioneering ways to decarbonise the energy system including
delivering The Great Grid Upgrade - the largest overhaul of the UK grid in
generations - and building the Upstate Upgrade, the largest investment in New
York's electricity transmission network for over a century.

 

As one of the largest investor-owned energy companies in the world, National
Grid is at the centre of a clean, fair and affordable energy future, and is
one of the FTSE's largest investors in the energy transition.

 

Zoë Yujnovich's Biography

 

Zoë Yujnovich is an international business leader recognised for her
prominent roles in the energy sector and delivering performance
transformation.

 

Zoë began her career with Rio Tinto, holding senior management positions
across diverse international markets including Australia, USA, UK, Brazil and
Canada. Her significant experience managing cross-cultural teams and driving
consistent outperformance through better workforce engagement at Rio Tinto
positioned her as a respected figure in international business.

 

In 2014, Zoë joined Shell plc, initially as Executive Vice President in
Canada, where she successfully led major infrastructure projects critical to
the company's strategy and operational delivery. Subsequently, as Shell's
Country Chair and Executive Vice President for Australia and New Zealand, she
led the local operational and cultural integration of BG, a US$70bn
acquisition.

 

Zoë's strategic capabilities were further recognized by her appointment as
Shell's Executive Vice President of Conventional Oil and Gas, based in The
Hague, where she managed global operations. In October 2021, Zoë was elevated
to Shell's Executive Committee, based in London, as Director of Integrated Gas
and Upstream, further underscoring her key role in navigating complex global
energy challenges.

 

Zoë also serves as an Independent Non-Executive Director at Unilever PLC.

 

Remuneration arrangements

 

John Pettigrew

 

John Pettigrew will remain as Chief Executive until 16 November 2025, but will
continue to be available to the Group through to the end of his 12 month
notice period, which expires on 30 April 2026. His departure will be treated
in accordance with the Directors' Remuneration Policy and his service
contract. Accordingly, he will continue to receive his current level of salary
and benefits up to the cessation of his employment.  He will be eligible,
whilst he remains Chief Executive, for a pro rata annual bonus and LTPP award
and will be treated as a good leaver for the purposes of his outstanding LTPP
awards, which will be pro-rated to his date of leaving but will vest at the
normal dates subject to the achievement of the relevant performance
conditions.

 

Additional details will be set out in the section 430(2B) disclosure that will
be made available on the Company's website following his departure from the
Board and will also be set out in the Directors' Remuneration Report for the
year ending 31 March 2026.

 

Zoë Yujnovich

 

Zoë Yujnovich will receive a base salary of £1,300,000 per annum. The
remaining elements of her remuneration will be in line with the Directors'
Remuneration Policy. On appointment, she will be granted share-based awards to
replace remuneration foregone when leaving her previous employer.

 

Further details of her remuneration arrangements will be set out in the
Directors' Remuneration Report for the year ending 31 March 2026.

 

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