Severn Trent CEO to retire in spring 2014

Water company Severn Trent has announced the intention of its Chief Executive Officer, Tony Wray, to retire from the company in spring next year, by which time he will have been in the role for seven years.

Water company Severn Trent has announced the intention of its Chief Executive Officer, Tony Wray, to retire from the company in spring next year, by which time he will have been in the role for seven years.

The group has now begun the process of identifying candidates for the position both internally and externally, it said.

Wray will lead the company for the next year, overseeing the submission of its Final Business Plan to Ofwat for PR14 and manage an orderly handover to his successor.

Severn Trent Chairman, Andrew Duff said: "Tony is a highly effective Chief Executive of Severn Trent. Under his leadership the business has undergone significant transformations and operational improvement.

"Tony has also been an influential voice within the industry and has played a significant part in setting its future direction.

"With a strong Executive team in place the timing of this decision provides Severn Trent with continuity of leadership and the necessary time to search for and identify his successor."

NR

Recommended

Ensign Group: profiting from US private care
Trading

Ensign Group: profiting from US private care

Nursing and care-home specialist Ensign Group should thrive as Americans age. Matthew Partridge picks the best way to play it.
28 Sep 2021
How to profit from India’s high-tech recovery
Share tips

How to profit from India’s high-tech recovery

Professional investor David Cornell of the India Capital Growth Fund, selects three of his favourite Indian stocks to buy now.
27 Sep 2021
Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021

Most Popular

A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021
What really causes inflation? Here’s what prices since 1970 tell us
Inflation

What really causes inflation? Here’s what prices since 1970 tell us

As UK inflation hits 3.2%, Dominic Frisby compares the cost of living 50 years ago with that of today, and explains how debt drives prices higher.
15 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021