Welsh Water has announced that chief executive Chris Jones will retire in March 2020, to be succeeded by current managing director Peter Perry.
Jones has served as a director of the company for 25 years and founded Glas Cymru the not-for-profit enterprise which acquired Welsh Water in 2001.
Perry, who has been managing director since October 2017, began his career with the company as an apprentice.
Jones said he felt the time was right to move on, at the start of the next five-year regulatory period and with a strong succession plan in place.
He said: “I am proud of what we have achieved since Nigel Annett and I first launched our unique, not-for-profit company back in April 2000. We have created a clear corporate purpose and vision, with a strong and well-embedded culture of customer-led success. To date, customers have benefitted to the tune of around £450 million – money that in other companies would have gone to shareholders.
“I would like to give my most sincere thanks to all my colleagues for the great support that they have given me over the last six years. I am sure that the business will continue to do an even better job for its customers in the future, given the highly skilled and very committed people who work for Welsh Water. This could not have been better demonstrated than in the heroic response of my colleagues in the face of the unprecedented weather challenges throughout 2018 to maintain service to customers and to protect our environment.”
In acquiring Welsh Water from Western Power Distribution in 2001, Glas raised £1.9 billion in long-term bonds – at the time the largest-ever sterling bond issue.
Alastair Lyons, chair of the Glas board, said: “Few people can justifiably claim to have been instrumental in forging a unique business model and a culture that inspires those who work with, and are customers of the business. Glas owes Chris a great debt and he can be rightly proud to be chief executive of a company that has amongst the very highest levels of customer satisfaction and perception of value for money.
“We are equally extremely fortunate to have someone of Pete Perry’s experience and capability to succeed Chris when he retires next April. As chief operating officer and latterly managing director Pete has worked alongside Chris whilst he was chief executive, enabling a seamless transition to take place ahead of our beginning AMP7, the next phase of our journey to deliver our Welsh Water 2050 vision”
Perry has a civil engineering background and was formerly the chief operating officer for United Utilities Operational Services. Prior to joining UUOS he worked for Welsh Water for over 20 years.
He said: “I am absolutely honoured to be taking on the role. It is a privilege to have the opportunity to build on Chris’ excellent work as CEO. We have a great team of people in the organisation and I look forward to leading the business to achieve our main priorities of further improving service to our customers and protecting the environment. With our unique ‘not for shareholder’ structure which creates a business ethos entirely focused on serving our customers and communities, we are well placed to face up to the big challenges of the future such as climate change and meeting the increasing expectations of our customers.”