REG - Severn Trent PLC - CEO Succession

Severn TrentAnnouncement

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RNS Number : 1486I  Severn Trent PLC  19 November 2025

Severn Trent Plc announces James Jesic as next CEO, as Liv Garfield steps down

 

Severn Trent Plc ("Severn Trent") today announces that Liv Garfield is
stepping down as Chief Executive Officer ("CEO") and Executive Director of
Severn Trent.

The Board is pleased to announce that following a rigorous internal and
external evaluation process, which reflects effective long-term succession
planning, James Jesic has been selected to succeed Liv. James is currently
Capital and Commercial Services Director at Severn Trent and Managing Director
of Hafren Dyfrdwy Cyfyngedig ("Hafren Dyfrdwy").  James will take over as CEO
and join the Board from 1 January 2026.

Liv will step down from the Board on 31st December 2025. She will remain with
the business until the finalisation of the financial year ending 31March 2026
and will support James with a detailed handover of responsibilities, support
and counsel to ensure a smooth transition.

Having made a strong start to the largest ever investment programme, Liv and
the Board agree that this is the right time to transition to a new CEO. James
is an exceptionally well-qualified internal successor to deliver the
well-established plans for long-term and sustainable growth.

Liv steps down after leading Severn Trent into the start of its c£15bn price
review period, a plan which was rated Outstanding by Ofwat, enabling record
levels of investment in the water and waste networks across the Midlands. The
company has recently been awarded the highest 4-star rating for environmental
performance by the Environment Agency for the sixth year running.

James, a chartered engineer, joined Severn Trent as a graduate in 2003 and has
since worked across the full breadth of the business.  He was appointed to
the Severn Trent Executive Committee in 2018, later becoming Customer
Operations Director. In 2023 he became Capital and Commercial Services
Director, responsible for delivering the Severn Trent's multi-billion-pound
capital design and delivery programme. James was also appointed to the Board
of Hafren Dyfrdwy, Severn Trent's licensed entity in Wales, in July 2020,
taking on the role of Managing Director.

James has delivered industry-leading financial and environmental performance,
and operational transformation across water and waste networks during his
22-year career at Severn Trent. He possesses a deep technical understanding of
Severn Trent's operations, and most recently played a leading role in
expanding the commercial portfolio of the group, including the growth of
Severn Trent's renewables business, Green Power.  James is a highly respected
leader who embodies the values and culture of Severn Trent.

 

Christine Hodgson, Chair, Severn Trent Plc, said:

"On behalf of the Board, I would like to express our deep appreciation to Liv
for 11 years of outstanding leadership. With her laser sharp focus on
performance, she has transformed Severn Trent to be a recognised sector
leader. She leaves the business in a strong financial and operational
position, underpinned by a culture built on care, passion and an unwavering
commitment to getting the job done. Liv is an exceptional talent and much
valued colleague, whose impact will be felt for many years to come.

After a thorough process, we are delighted to announce the appointment of
James Jesic, a home-grown leader, who has already played a significant role in
the success to date of Severn Trent. His operational expertise and performance
focus, along with his passion for our people, purpose and region, make him the
ideal person to lead Severn Trent into our next phase."

Liv Garfield, said:

"It has been a true privilege to be the CEO for the last 11 years. I love the
business, and I love the people. I'm grateful to have led an incredible team
of hard working and passionate individuals that make Severn Trent the very
special company it is today.

I am proud that together we have become widely recognised as a sector leader
and now have our largest ever investment programme ahead of us. I couldn't be
happier that James is taking the baton to lead the organisation through the
next period of growth, and I know he will do an excellent job."

James Jesic, said:

"I've been privileged enough to lead many parts of the business, and to now
become CEO is an absolute honour.  The pride I feel for Severn Trent and for
the Midlands is huge. Not only have I grown my career within this business,
but I've always been a Severn Trent customer.

Every day I see first-hand the passion and pride that Severn Trenters bring in
delivering our service and I am excited to continue that for years to come,
and lead the business forward into its next chapter, delivering for customers,
the region and all of our stakeholders."

Summary of arrangements in relation to Directorate changes

Remuneration Arrangements

James Jesic

The Remuneration Committee considered the remuneration arrangements that would
be appropriate to enable Severn Trent to recruit and retain a CEO who meets
the criteria for the role within the Company's current shareholder-approved
remuneration policy. The starting salary has been set at £775,000, compared
to Liv's salary of £873,200. Variable remuneration levels will match those
of Liv's current package, in line with the 2024 Remuneration Policy.

Liv Garfield

Liv will continue to receive her salary, pension and benefits as usual until
the end of her employment with Severn Trent, and she will be eligible for a
bonus for the 2025/26 financial year (which she will have worked in full)
subject to performance and deferral in the normal way. She will be treated as
a good leaver under Severn Trent's incentive plan rules. Liv will remain
subject to Severn Trent's 300% of salary post-employment shareholding
requirement for 2 years after she steps down from the Board. Further details
of remuneration arrangements in relation to Liv's departure from Severn Trent,
which are consistent with the Group's directors' remuneration policy, will be
disclosed on Severn Trent's website in accordance with section 430(2B) of the
Companies Act 2006.

 

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 James Jesic's appointment.

This release contains inside information for the purposes of the UK Market
Abuse Regulations.

The person responsible for making this announcement on behalf of Severn Trent
Plc is Didar Dhillon, Group Company Secretary.

 

ENDS.

 

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