Thames Water has today announced that Sarah Bentley has resigned as Chief Executive of the company and will step down from the Board today.
Chief Finance Officer Alastair Cochran and former Ofwat Chief Executive Cathryn Ross, who joined Thames Water in 2021, will assume the role of joint interim CEO effective immediately.
A statement issued by Thames said Sarah Bentley will continue to support the interim CEO "as needed to support an orderly transition to a new chief Executive." The Thames Water Board will begin the search for a new Chief Executive and further announcements will be made in due course, as appropriate.
Ian Marchant, Thames Water’s Chairman, said:
‘I want to thank Sarah for everything she has done since joining the Company in 2020, building a first class Executive Team and leading the first phase of the turnaround of the Company. On behalf of everyone at Thames, the Board wishes her every success for the future'.
Sarah Bentley said:
‘It has been an honour to take on such a significant challenge, and a privilege to serve Thames Water’s dedicated and inspirational colleagues. The foundations of the turnaround that we have laid position the company for future success to improve service for customers and environmental performance. I wish everyone involved in the turnaround the very best’.
Thames Water is the country’s largest water company serving 15 million customers in London and the Thames Valley.
Sarah Bentley joined the business in September 2020. She previously held the position of Chief Customer Officer at Severn Trent. Prior to that she was the Managing Director of Accenture’s digital business unit in the UK and Ireland.
Last month Ms Bentley said that she and Alastair Cochran would forgo their bonuses and any payments due under long-term incentive plans for the 2022-23 financial year.
Commenting at the time, Gary Carter, a national officer at the GMB union, said:
“Ms Bentley’s announcement she won’t take a bonus, while at the same time trousering a huge total pay package shows, it was nothing more than a flimsy PR stunt.”
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