New chair and CEO for Pennon

PENNON Group, the FTSE 100-listed owner of South West Water and Bournemouth Water and co-founder of the Back the South West campaign for regional growth has announced a new Chair and CEO following the sale of its national waste management business Viridor to global investment firm KKR.

Susan Davy is being appointed as the new CEO and Gill Rider will become Group Chair as Sir John Parker and Chris Loughlin step down as the Group’s Chair and CEO respectively.

Devon-based Gill Rider will take the role of Chair having joined the Board in September 2012. She is currently Senior Independent Director and Chair of the Remuneration Committee. Gill has a wealth of experience in leadership and governance across a broad range of sectors including professional services, education and government.

Susan Davy, who lives in Sidmouth, has been with the Group since 2007, initially serving as Finance Director for South West Water from 2007 until her appointment to the Pennon Board of Directors as Chief Financial Officer in 2015. With her senior level background in the water industry she steered South West Water through the regulatory price reviews in 2014 and 2019, with South West Water the only company to have achieved fasttrack status in each businessplanning period.

“I am honoured to be taking on the role of Chief Executive, following the success of the Group under Chris’ leadership,” said Susan. “The sale of Viridor is a landmark moment for Pennon. With our renewed focus on excellence in the water and wastewater sector it is an incredibly exciting time as we forge ahead with our ambitious ‘New Deal’ plans for the 2020-25 period. I am also delighted that Gill is being appointed as the new Chairperson and look forward to working with her to drive Pennon forward in ever more sustainable and innovative ways.”

The appointments will be subject to election by shareholders at the Company’s AGM on July 31.