REG - Pennon Group PLC - Susan Davy to retire from the Pennon Group Board

PennonAnnouncement

11/07/2025 12:15

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RNS Number : 7762Q  Pennon Group PLC  11 July 2025

 

11 July 2025

 

Susan Davy to retire from the Board of Pennon Group

 

Pennon Group (LSE:PNN) today announces that Susan Davy has decided to retire
from the Board of Pennon Group and as CEO.

 

Susan was appointed Chief Executive Officer on 31 July 2020, having served on
the Board as Chief Financial Officer since 2015. After more than 18 years with
the Group, and nearly 30 years in the water sector, Susan has decided that the
time is right for her to hand over to a new leader.

The Board will now conduct a formal process to appoint a successor. Susan will
continue as Group Chief Executive during this time and will leave in due
course, ensuring a smooth and orderly transition.

 

Under Susan's leadership, Pennon has been reshaped around four strategic
priorities.  She led the acquisitions of Bournemouth Water, Bristol Water and
SES (Surrey and East Sutton) Water, as well as the successful Viridor sale for
£4.2bn. In January, she announced Pennon's plans for a record £3.2billion
capital investment programme over the next five years.  Susan has also been
the architect of the Watershare+ scheme, giving customers a stake and a say in
their local water company.

 

Commenting on her decision Susan said: "It has been an honour to serve as
Chief Executive Officer of Pennon.  Running a water company is always
interesting, often challenging, but totally fulfilling.  I have enjoyed
taking responsibility for the provision of a sustainable service to millions
of homes.  As a long-term resident in the South West of England, our home
region, I have been proud to lead the extraordinary team at Pennon whether in
the offices, at reservoirs, on the road or in depots.  This is vital work,
and our people never shirk from that responsibility.  The approval of our
investment plans by Ofwat made this a natural juncture to retire from
Pennon.  This has been my life for the past 30 years, and now it's right I
hand this huge responsibility to the next generation of leaders.  I look
forward to working closely with David and the Board for the remainder of my
tenure."

 

David Sproul, Chairman of Pennon said: "Susan has been a passionate supporter
of the sector over many years and has led Pennon through its transition to
focus on UK Water.  The Board and I are incredibly grateful to Susan for her
unwavering leadership, as she has navigated the Group through some challenging
external headwinds to emerge stronger and more resilient as we look ahead to
the next regulatory period.  Susan will continue to lead the Group whilst we
appoint her successor, ensuring a smooth and orderly succession."

 

Further information about the new CEO of Pennon Group will be made in due
course.

 

 

 For further information, please contact:

 Pennon Group plc
 Sarah Heald        Chief Strategy, Regulatory Affairs and Investor Relations Officer  +44(0)7754 200 929

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

 

Notes to editors:

 

Susan Davy will be treated as a good leaver in accordance with Pennon's
shareholder approved Directors' Remuneration Policy. Details of her
compensation on retirement will be disclosed on the Company's website in due
course in compliance with Section 430(2B) of the Companies Act 2006, and full
details will also be disclosed in the Directors' Remuneration Report for the
relevant year.

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