TIDMSVT
RNS Number : 6622P
Severn Trent PLC
04 September 2017
Severn Trent announces organisational and directorate
changes
Severn Trent today announces organisational changes to its
Wholesale business to drive further improved performance this
AMP(1) and position it for success in the next regulatory
period.
In advance of PR19(2) the company is reshaping the Wholesale
business to create three teams: Customer Delivery, Capital Delivery
and Commercial, and Production. The Customer Delivery team will be
led by Sarah Bentley, Chief Customer Officer, and will be focused
on further improving customer experience. The Capital Delivery and
Commercial team will be led by Helen Miles, Chief Commercial
Officer and will be focused on optimal delivery of asset
construction schemes and driving further efficiencies in the supply
chain. The Production team will be focused on driving higher
quality water production and waste water treatment and we will be
starting an internal and external search for a candidate to head
this team.
Severn Trent's non-regulated business will continue to be led by
Andy Smith, Managing Director, Business Services and will be
expanded to include a new dedicated bio-resources business.
The changes will position the company to drive upper-quartile
performance across Water, Waste and Retail in the regulated
business, and will allow Severn Trent to take advantage of the
opportunities afforded by competition in the bio-resources market
from AMP7 in the non-regulated business.
The reorganisation has resulted in changes to the role of the
Managing Director, Wholesale Operations, Emma FitzGerald. As a
consequence, following the transition of her responsibilities, Emma
will step down from the Board in December 2017 and will leave the
company in the Summer of 2018. During this time she will continue
to report directly to Liv Garfield, CEO, and focus on developing
the company's capability to manage and integrate disruptive
technological innovation.
Having delivered strong performance, including sector-leading
customer ODIs(3) , in the first two years of AMP6(4) the company
remains pleased with current performance. The changes announced
today will allow Severn Trent to deliver more efficiencies over the
course of this AMP and meet the challenges and opportunities of
AMP7(5) .
Liv Garfield, Chief Executive, Severn Trent Plc, said:
"In the first two years of this regulatory period we have
created a robust track record on a range of measures which benefit
all our stakeholders and we are pleased with current performance. I
am confident the changes we are announcing today will further
enhance Severn Trent's ability to deliver strong results this AMP,
underpinning our ambitions for upper-quartile performance, and are
aligned with our objective to drive further improvements in AMP7
and for the longer term.
On behalf of the Board, I would like to say thank you to Emma
for her leadership of the Wholesale business and the key role she
has played in helping us achieve our successes during the first
half of the AMP. I am delighted that she will be staying with the
company for some time yet, before she embarks on the next stage of
her career."
Notes:
1. AMP = Asset Management Plan
2. PR19 = Price Review 19 for the regulatory period 2020 to 2025
3. ODIs = Outcome Delivery Incentives
4. AMP6 = Asset Management Plan for the regulatory period 2015 to 2020
5. AMP7 = Asset Management Plan for the regulatory period 2020 to 2025
Enquiries
Investors & Analysts
+44 (0) 795 716
Ruban Chandran Severn Trent Plc 6615
Head of Investor
Relations
+44 (0) 783 441
Richard Tunnicliffe Severn Trent Plc 9722
Investor Relations
Manager
Media
+44 (0) 207 353
Jonathan Sibun Tulchan Communications 4200
+44 (0) 247 771
Press Office Severn Trent Plc 5640
Cautionary statement regarding forward-looking statements
This document contains statements that are, or may be deemed to
be, 'forward-looking statements' with respect to Severn Trent's
financial condition, results of operations and business and certain
of Severn Trent's plans and objectives with respect to these
items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'projects',
'potential', 'reasonably possible', 'targets', 'goal', 'estimates'
or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking
statements in this document are based on Severn Trent's current
expectations and, by their very nature, forward-looking statements
are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance and no assurances can be given that the forward-looking
statements in this document will be realised. There are a number of
factors, many of which are beyond Severn Trent's control that could
cause actual results, performance and developments to differ
materially from those expressed or implied by these forward-looking
statements. These factors include, but are not limited to: the
Principal Risks disclosed in our latest Annual Report and Accounts
(which have not been updated since the date of its publication);
changes in the economies and markets in which the group operates;
changes in the regulatory and competition frameworks in which the
group operates; the impact of legal or other proceedings against or
which affect the group; and changes in interest and exchange
rates.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to Severn
Trent or any other member of the group or persons acting on their
behalf are expressly qualified in their entirety by the factors
referred to above. No assurances can be given that the
forward-looking statements in this document will be realised. This
document speaks as at the date of publication. Save as required by
applicable laws and regulations, Severn Trent does not intend to
update any forward-looking statements and does not undertake any
obligation to do so. Past performance of securities of Severn Trent
Plc cannot be relied upon as a guide to the future performance of
securities of Severn Trent Plc.
Nothing in this document should be regarded as a profits
forecast.
This document is not an offer to sell, exchange or transfer any
securities of Severn Trent Plc or any of its subsidiaries and is
not soliciting an offer to purchase, exchange or transfer such
securities in any jurisdiction. Securities may not be offered, sold
or transferred in the United States absent registration or an
applicable exemption from the registration requirements of the US
Securities Act of 1933 (as amended).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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