National Grid has announced the appointment of its new chief financial officer (CFO).

Andy Agg, who has been interim CFO of the company since July this year, will take up the role from 1 January.

Agg will become an executive director and a member of the finance committee. He will also continue as a member of the group executive committee.

Prior to his interim appointment, Agg was the UK CFO before becoming group tax and treasury director in 2016.

Speaking of his appointment, Agg said: “I am really excited to be joining the board of National Grid and look forward to working with the board and the executive team to help deliver the company’s operational and strategic ambition.”

Peter Gershon, chair of National Grid, said the process to find a permanent CFO had been “rigorous”.

He said: “Following a formal, rigorous and transparent process to identify a permanent CFO, the board is delighted to appoint Andy Agg to the role.

“Andy stepped into the role on an interim basis following Andrew Bonfield stepping down in July.

“I warmly welcome him to the board of National Grid.”

Meanwhile John Pettigrew, National Grid’s chief executive, added: “Andy has done a great job since stepping into the role on an interim basis in July and I am personally delighted that he has now been formally appointed to the role.

“With his broad experience in operational and corporate finance roles, and significant and deep knowledge of National Grid, Andy is well placed to help steer the company through the next phase of its evolution.”

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