Thames Water Utilities Limited

Board/Management Information • May 24, 2019

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RNS Number : 1977A

Thames Water Utilities Limited

24 May 2019

THAMES WATER UTILITIES FINANCE PLC

THAMES WATER (KEMBLE) FINANCE PLC

(each an "Issuer")

Thames Water announces the departure of CEO Steve Robertson and appoints Ian Marchant as Interim Executive Chairman

Reading, 24 May 2019

Thames Water Utilities Ltd ("Thames Water") announces today that Steve Robertson is stepping down as Chief Executive Officer with immediate effect.

Mr Robertson will remain an employee until 30 June to ensure an orderly transition, working with Ian Marchant, who will serve as Interim Executive Chairman until a new Chief Executive is appointed. A search process is underway to find a replacement Chief Executive. Mr Marchant has been Independent Chairman since January 2018.

Mr 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. Under his leadership, Thames has increased its focus on customer satisfaction, improved incident response capabilities, expanded support for vulnerable families and invested more than £2bn 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."

For further information, please contact the Sunny Tucker, Stuart White or Neil Bennett at the contact details listed below:

Sunny Tucker	Tel: 07747 644747	Email: [email protected]
Stuart White	Tel: 020 3577 4364	Email: [email protected]
Neil Bennett	Tel: 07900 000 777	Email: [email protected]

Legal Entity Identifier number for Thames Water Utilities Finance PLC: 213800SKZTSE2L1BII69.

Legal Entity Identifier number for Thames Water (Kemble) Finance PLC: 213800S7UU2MQXYJQO60.

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