Thames Water announced late on Friday afternoon that Steve Robertson is stepping down as Chief Executive Officer with immediate effect - the search process to find a replacement Chief Executive is already underway.
A statement issued by the water company said he will remain an employee until June 30 to ensure an orderly transition, working with Ian Marchant, who will serve as Interim Executive Chairman until a new Chief Executive is appointed.
Ian Marchant has been Independent Chairman since January 2018.
Steve Robertson was appointed Chief Executive in September 2016 and, since then, Thames Water has successfully transformed in a challenging environment and built strong foundations to deliver its strategy, the company said. Under his leadership, Thames has increased its focus on customer satisfaction, improved incident response capabilities, expanded support for vulnerable families and invested more than £2 billion in the network to improve overall performance.
Ian Marchant, Interim Executive Chairman, said:
“On behalf of the Board, I would like to thank Steve for his service as CEO and wish him all the best. He has done a great job leading the company through significant change, putting the building blocks in place for its long-term success.
“We need to continue to ensure that Thames Water is an organisation that both customers and staff feel proud of. We remain fully committed to our proposed business plan focused on providing industry-leading customer service through a substantial investment programme which we are determined to deliver.
“We look forward to working with our key stakeholders to make it happen. We play a vital role in the lives of millions of people and we are relied on to meet that responsibility each day. That is the challenge that the executive team, the board and I are all focused on.”
Steve Robertson said:
“It has been a privilege to lead an organisation that touches the lives of so many. I would like to thank all those I have worked with, both inside and outside the company, and am proud of what we have achieved over the last two and a half years. Of course challenges remain, but Thames is now on stronger footing and well positioned to deliver for its customers in the years to come. I wish everyone at Thames Water all the very best as I pursue new opportunities.”
Ian Marchant was appointed as an Independent Non-Executive Director on 1 December 2017, and became Thames Water Chairman in January 2018, following Sir Peter Mason’s retirement.
He spent 21 years at SSE plc, as Chief Executive and previously as Finance Director, before retiring in June 2013.
According to a report in the Financial Times, the headhunter Spencer Stewart has been appointed to find a successor to Steve Robertson. According to a separate report on BBC News, a “source close to the company” said the firm wanted someone with "a mind for operations".
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