Yorkshire Water chief executive Richard Flint is to retire on September 12, to be replaced by the company’s current chief financial officer, Liz Barber.
Flint has been chief executive since 2010, when he was promoted from chief operating officer. He has been with the company since 1992.
Anthony Rabin, chairman of Yorkshire Water, said: “I would like to thank Richard for his exceptional leadership of the company over the last nine years and wish him the very best for the future. Richard has been pivotal in guiding the business through a period of very significant change during his tenure and leaves the company well prepared to deliver in the future. I would also like to particularly thank Richard for his assistance in ensuring a smooth transition to his successor.
“I am delighted that Liz has agreed to take over as CEO, following an open recruitment process through which Liz was the outstanding candidate. She has already made a major contribution to the company in her current role and most recently has led the company’s long term strategy development and its business transformation programme. She has also been central to Yorkshire Water’s work to make our finances more transparent by, for example, the removal of our previous offshore structures.”
Flint said it was the right time in the regulatory calendar to step down, at the end of his second five-year price cycle as group chief executive.
He added: “It’s been a huge honour to serve as CEO for nearly 10 years and after 27 years with the company I wish all our great colleagues, board members and customers the very best for the future.”
Barber said: “It’s a great privilege to be given the job of leading Yorkshire Water. We have an excellent business plan for the next five years and we need to ensure that delivers all it can for our customers and the environment. We have a major part to play in responding to climate change, both by reducing our own carbon impact, and also in changing our operations to deal with its consequences.
“We are central to the fabric of Yorkshire and I am committed to ensuring that we play a full part to contribute to the inclusive growth of the county.”
Flint is the second major water company CEO to announce their departure in the past month, with Welsh Water’s Chris Jones also revealing his departure. Jones will leave in March 2020, with his successor also an internal appointment – current managing director, Peter Perry.
Yorkshire Water was one of four companies warned by Ofwat that the regulator still had “substantial concerns” about its business plan for the 2020-2025 period, ahead of Thursday’s draft determinations publication.