4th May 2018 08:55
LONDON (Alliance News) - National Grid PLC on Friday said Chief Financial Officer Andrew Bonfield will leave to take on a role at an unnamed US public company, which will enable him to be closer to his family.
Bonfield will step down after annual general meeting expected to take place at the end of July.
"On behalf of the board I would like to thank Andrew for the significant contribution that he has made to National Grid over the last eight years and wish him well for the future," said Chairman Peter Gershon.
The electricity and gas utility company said Tax & Treasury Director Andy Agg will become interim finance head pending the appointment of a permanent CFO.
National Grid said it will not appoint Agg to the board in this interim role, but he will become a member of the group executive committee and will attend all board, audit committee and finance committee meetings.
"We are very fortunate to have someone of Andy's calibre and experience," said Chief Executive John Pettigrew. "His in-depth knowledge of National Grid, both in the UK and US, will ensure a smooth transition whilst we undertake a search for Andrew's permanent successor."
Shares in National Grid were trading 0.8% higher at 852.90 pence each early on Friday.
Related Shares:
National Grid