FTSE 250-listed water, waste management and renewable energy company Pennon Group has announced the intended retirement of Colin Drummond, the Chief Executive Officer of its subsidiary Viridor and an Executive Director of Pennon Group.
Drummond will take up the position of Non-executive Chairman of Viridor once a successor has been appointed, which is expected to be by the end of September 2013, the group stated.
Ken Harvey, Chairman of Pennon Group, said: "Colin has made a tremendous contribution to the success of Viridor and Pennon over many years. His leadership of Viridor and the development of its strategy have resulted in the company becoming one of the largest and best respected recycling, renewable energy and waste management businesses in the UK."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Pennon's share price was down 0.39% to 642.50p at 10:48 on Wednesday.
MF
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returnsThe government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
-
Return to the office: is working from home coming to an end?More and more employers want their staff to return to the office. Is it a good idea?
