10th Jun 2024 08:22
Pennon Group PLC - Exeter, England-based water utility - Hires David Sproul to be chair, joining the board on July 1 and taking over as chair from Gill Rider after the company's annual general meeting on July 24. Sproul currently is chair of digital-only lender Starling Bank. As an executive, he was global deputy chief executive officer of accountants Deloitte. Sproul will be paid GBP250,000 per year, in line with what Rider was paid. The appointment comes as the UK's water companies are under political pressure over releases of sewage into waterways. A consultation on draft pricing decisions for the water sector was pushed back by regulator Ofwat until July 11, after the July 4 general election, having originally been scheduled to be out this week.
Current stock price: 587.50 pence, down 1.5% early Monday in London
12-month change: down 25%
By Tom Waite, Alliance News editor
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