Thames Water poaches new chief financial officer from SSE

Thames Water has appointed SSE’s managing director of finance Brandon Rennet to succeed Stuart Siddall as chief financial officer. He will take up the post in March 2017.

Thames Water chairman Peter Mason said: “Brandon has extensive experience in the utilities industry, having worked in the power sector for 14 years. He is a proven leader who will be joining Thames Water at a time of significant change in the industry, with the competitive market open to all non-household customers from April.

“This, along with other upcoming regulatory changes, will require an even sharper focus on our finances and industry-leading investment programme to ensure our customers continue to get the best value for money and service they deserve. We look forward to Brandon taking control of this crucial area of the business from March as we head into a new era.”

He added: “I also want to take this opportunity to thank Stuart Siddall for all he has achieved in his time as chief financial officer over the last five years, and for his strong contribution as a member of the Executive Team, including his efforts always to present financial information as openly and accessibly as possible.”

Rennet said: “I’m delighted to join Thames Water and proud to be given the opportunity to make a difference to a company that is so important to the economy of the region, is steeped in such history and that so many customers depend on every day.”

Siddall announced in April that he would retire at the end of 2016. Thames said it would begin the search for his successor as chief financial officer once the new chief executive – Martin Baggs’ successor – was in post.

Steve Robertson was appointed to the post of chief executive in May 2016, and took up the post in September 2016.