Overview
- Liv Garfield will leave after 11 years at the helm at the end of December and remain through March to support the handover.
- James Jesic, currently capital and commercial services director and managing director of Hafren Dyfrdwy, will take over in January on a £775,000 starting salary.
- Half-year results to September 30 showed pre-tax profit up 60% to £307.8 million and an upgraded outlook for at least £40 million of performance incentives tied to service improvements.
- Severn Trent is executing an approximately £15 billion five-year upgrade of pipes, sewers and reservoirs, with recent bill increases helping to fund targets to cut leakage and pollution and to halve storm overflow spills by 2030.
- The utility has achieved the Environment Agency’s highest rating for six consecutive years, and Garfield’s exit further reduces the already small number of women leading FTSE 100 companies.