Affinity Water has announced that Pauline Walsh is stepping down as CEO of Affinity Water with immediate effect.
Announcing the change of leadership, the water company said that Stuart Ledger, currently Affinity Water's Chief Financial Officer, has been formally appointed as the Interim CEO.
A statement issued by the company to the London Stock Exchange said:
“Since Pauline joined the business three years ago, she has established clear priorities for future investment, initiated successful programmes to drive operational improvement and cultural change across the business and has established strong relationships with our key stakeholders.
“The business now needs to consolidate the work which Pauline has led so that it can build on these solid foundations and accelerate the pace of change whilst maintaining the focus on, and relationship with, our key stakeholders and communities .”
The Affinity Water Board will now commence a recruitment process for a successor CEO and it has not set any specific timescale for a permanent appointment.
According to the statement, the change of leadership does not “presage any change of strategy” for the business.
Chairman of Affinity Water, Ian Tyler commented:
"I would like to thank Pauline for her service over the last three years which has seen Affinity through a change of ownership and transition to AMP7. The Board would like to take this opportunity to thank Pauline for her contribution and involvement and wish her well for the future. I am very pleased that Stuart will step up to the interim CEO role. Stuart has substantial operational experience across the water sector and his experience will provide additional balance and industry insight to our Board, steering the organisation through this crucial transition period."
According to a media report, redundancies are also being considered by Affinity Water - attributed to the financial impacts of Covid-19 and “stretching performance commitments.”
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