REG - Pennon Group PLC - Chief Financial Officer Succession

PennonAnnouncement

03/08/2023 07:00

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RNS Number : 1371I  Pennon Group PLC  03 August 2023

 

 

 

Pennon Group PLC - Chief Financial Officer Succession

 

Pennon Group today announces that Paul Boote has informed the Board of his
decision to step down from his role as Chief Financial Officer at the end of
the calendar year. Paul's decision, made for family reasons, comes as part of
a planned relocation away from the South West.

 

The Board also announces that following a rigorous internal and external
search and selection process, Steve Buck will be appointed to the Board in
November 2023 and will take up his role as Chief Financial Officer (CFO) for
Pennon Group and its subsidiaries at the end of December 2023.

 

Steve Buck is an experienced CFO and is currently on the board of Anglian
Water Group as Chief Financial Officer, with a broad remit covering finance,
treasury, regulation, and transformation, a role he has held for the past four
years. Steve has significant regulated utilities and energy sector experience
and a demonstrable track record of driving performance. He also brings Plc
experience having held senior roles at Centrica Plc, including Group Head,
Finance and Transformation, and as Finance Director, British Gas, following an
earlier career spanning over sixteen years in the water sector.

 

Paul will leave the business following the Group's half year 2023/24 results,
at the end of December, ensuring an orderly handover with Steve.

 

Susan Davy, Group Chief Executive Officer, commented:

 

"I would like to thank Paul for his contribution to Pennon over the past 13
years, most recently stepping up as a member of the Board and to the role of
Chief Financial Officer. I would like to thank him for the support he has
given me personally and I wish him and his family the best for their future.

 

"The Board and I are delighted to welcome Steve to Pennon Group. He brings
significant water sector expertise, alongside broad regulated utilities sector
knowledge and listed experience. Steve will be pivotal in helping to drive
forward the next chapter in Pennon's growth strategy and continued leadership
in the UK Water sector."

 

Gill Rider, Chair, commented:

 

"The Board and I would like to recognise Paul's commitment to Pennon over many
years. Steve will be an accomplished successor, with broad and extensive
experience to complement our Board."

 

Paul Boote, Group Chief Financial Officer, commented:

 

"It has been a great privilege to serve Pennon over the past 13 years, and to
have played a pivotal role supporting Susan in the strategic development of
the Group during this time, including a number of landmark transactions. I
would also like to thank Susan, the Board and my many colleagues across the
business for their support."

 

Steve Buck, commented:

 

"I'm very much looking forward to joining Pennon Group, a listed business with
a strong track record in the water sector, with its future investment plans
and planned growth in environmental infrastructure."

 

There are no further matters which require to be disclosed pursuant to Listing
Rule 9.6.13.

 

For further information, please contact:

 

 Pennon Group plc                                            +44 (0) 1392 443 168
 Andrew Garard      General Counsel and Company Secretary
 Jennifer Cooke     Group Head of Investor Relations

 Media Enquiries - FGS Global                                +44 (0) 20 7251 3801
 James Murgatroyd
 Harry Worthington

 

 

 

 

 

 

 

 

 

 

 

 

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