Pennon’s newly appointed chairman John Parker said Loughlin will take on the role on 1 January 2016 after a four-month review of the corporate structure of SWW’s parent company resulted in the creation of the new role.
Leading SWW after Loughlin’s departure will be current chief operating officer Stephen Bird in the position of managing director of the water company.
Parker, who took the role of chairman in August this year, welcomed Loughlin’s appointment in light of his “wealth of experience” at the helm of SWW over the last nine years.
“I am sure he will provide strong management from a Group perspective and successfully lead the Group in its future strategic development,” Parker said in a statement.
In April this year Pennon bought Bournemouth Water from Singapore-based SembCorp in a bid to expand its business into the non-household market ahead of the opening of the market to competition in 2017.