Chairman to retire and successor announced

25/11/2005

Professor Sir Frederick Holliday, Chairman of the Board of Northumbrian Water will retire at the Annual General Meeting in July 2006, it was announced today. 

Sir Fred, who recently celebrated his 70th birthday, has been Chairman of the company since 1993 and will be succeeded by Sir Derek Wanless.

Sir Fred said: ”Although it is a sad day for me to confirm my retirement from the Board, I know that I will leave Northumbrian Water in the safe hands of Sir Derek, the Board, management and all the excellent  people who work for the company.”

The Chairman has overseen great change since he took over in 1993 after first joining the Board in 1991.

He has been at the helm for the sale of the company to Suez in 1995 and the merger of Northumbrian Water, North East Water and Essex & Suffolk Water and the return to the stock market of the enlarged company in 2003, following the decision of Suez to sell its holding.

Northumbrian Water has invested £3 billion in the North East and Essex and Suffolk to improve water quality and the environment during that time.

“It has been an exciting time to chair the Board and I have had great support over the years not only from my fellow Directors, but all the staff at the company who have always shown incredible commitment to the job they do for their customers,” added Sir Fred.

North easterner, Sir Derek joined the Northumbrian Water Group Board in 2003. He was previously Group Chief Executive of the Natwest Group from 1992 until 1999.

Subsequently he has been involved in reviewing and reporting on the trends affecting health services for the UK Government and is also a non-executive Director of Northern Rock plc.

Sir Derek began his education in the North East and was a pupil of the Royal Grammar School, Newcastle, before studying at Kings College, Cambridge.

He said: “Sir Fred has been a strong leader for Northumbrian Water over a period of considerable change and we have greatly valued that leadership as well as his wisdom and humanity. He will leave the company in a strong position and I am determined to build on the clarity of the strategy we have developed.”

Other changes were also announced today when Northumbrian Water Limited (NWL), the core water and sewerage business, agreed to appoint the non-executive directors of the Group Board (NWG), Sir Patrick Brown, Ron Lepin, Martin Nègre, Sir Derek Wanless and Jenny Williams, to the Board of NWL.  Sir Derek will also chair this Board following Sir Fred's retirement.

These appointments, which will take effect from 1 January 2006, have been discussed with Philip Fletcher, the Director General of Water Services.

The existing non-executive directors of NWL, Alastair Balls, Anita Frew and Alex Scott-Barrett, will continue to serve on the NWL Board which will remain compliant with NWL’s licence obligations in respect of independent directors.

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