Thames Water is launching a review of its corporate structure and governance to ensure that it is as simple and transparent as possible for its customers and stakeholders – the review will be led by the newly-appointed independent Chairman.

Ian Marchant, the former Chief Executive of SSE plc and current chair of engineering services company John Wood Group will join the Thames Water board on 1 December and take over as Chairman on 26 January, 2018.

The current governance arrangements between Thames Water and Kemble Water Holdings Ltd, Thames Water’s holding company, have been in existence since 2006, and include the appointment of a Chairman common to both boards.

As an initial step, to enhance the independence of Thames Water, Ian Marchant will chair the Thames Water board but will not chair, or sit on, the board of Kemble Water Holdings Ltd.

The review will consider the relationship between Thames Water and Kemble Water Holdings Ltd, and in particular how management control and decision making, including those matters currently reserved to the shareholders, can be made more transparent.

Having led SSE for more than 10 years, Thames said Ian Marchant has a deep understanding of the utility sector and the need to provide industry-leading customer service.

The company said he is considered the ideal candidate to be Chair of Thames Water as it enters the next chapter of its history. He succeeds Sir Peter Mason KBE, who became Chairman in 2006 and delayed his retirement last year to oversee a transitional phase for the company following the arrival of Chief Executive Officer, Steve Robertson, and Chief Financial Officer, Brandon Rennet, as well as welcoming several new investors.

Upon joining, Ian Marchant will lead a review of Thames Water’s corporate structure and governance to ensure the best possible transparency. As a first step, Thames Water is announcing that it intends to close its Cayman Islands’ subsidiaries. The utility said these have always been fully registered in the UK for tax purposes but no longer serve their original purpose of enabling smoother access to the global bond markets.

Thames Water has recently appointed several new Board members and welcomed new long-term major investors and has increased investment to further improve customer service levels.

Thames Water CEO Steve Robertson commented:

“On behalf of the company I would like to thank Sir Peter for his tremendous service to Thames Water over the past 12 years. I particularly appreciated his personal support and willingness to extend his term of office to provide continuity.

“I am delighted that Ian has decided to pick up the reins at an exciting time in our history. Ian knows we are fully committed and determined to improve the service we deliver to our customers, through listening and responding to their priorities, and continuing our extensive investment programme.”

Commenting on his new role, Ian Marchant said:

“As Chairman, I will be ensuring that the governance of Thames Water is best in class. We will conduct a thorough review and implement any changes needed to ensure that we have the right mix of skills and experience needed in this rapidly changing world, have simple and transparent structures and importantly that we put customers at the heart of everything we do.”