Overview

• Alastair Cochran, Thames Water's CFO, has stepped down after three and a half years, leaving during a key phase of the company's financial restructuring.
• The utility recently secured court approval for a £3 billion loan to stabilize operations through 2026 but still seeks £5 billion in equity investment after previous shareholders exited.
• Thames Water is grappling with £16 billion in debt and ongoing operational failures, including poor pollution control, mains leakage, and customer service performance.
• The company is at odds with Ofwat over proposed household bill increases, with the regulator reducing Thames Water's requested 53% hike to 35% over five years.
• Stuart Thom, currently Director of Group Finance, will serve as interim CFO as government monitoring for potential special administration continues.