Welsh Water has announced that Peter Bridgewater will stand down at the end of the year as Finance and Commercial Director after five years on the Board.

His finance and commercial responsibilities will be taken up by Mike Davis, currently Welsh Water’s Director of Strategy and Regulation, who will join the Board in the role of Chief Financial Officer effective 1 January 2020.

Peter Bridgewater, outgoing Finance & Commercial Director, said:

“As we approach the end of this regulatory investment period, the next few years will see a renewed focus on the core business of Welsh Water and I have decided to move on from my post as Finance and Commercial Director, after five years on the Board. Welsh Water plays a vital role in the local economy, safeguarding the environment and, of course, our public health and I wish this most impressive not-for-shareholder business - and all the colleagues I’ve worked with - the very best for the future.”

Glas Cymru Chairman, Alastair Lyons, added:

“On behalf of the Board and our Members, I would like to thank Peter for his contribution over the past five years and to wish him all the best for the future. I am delighted to have Mike Davis join the Board in his new role, combining finance, strategy and regulation. As Director of Strategy and Regulation for the past 10 years, Mike has had a huge impact on the business leading three price reviews and has been a central member of the Welsh Water executive team advising the Board.”