10th Sep 2020 10:11
(Alliance News) - London-based electricity and gas utility National Grid PLC on Thursday said Paula Reynolds will succeed Peter Gershon as chair following his resignation.
Reynolds will become non-executive director and chair designate from January 1, 2021, and, after a transitional period, will take up the role of chair.
Reynolds will become chair no later than the conclusion of the 2021 annual general meeting. The AGM is normally held towards the end of July.
Reynolds is currently a non-executive director at General Electric Co and a senior independent direct of BP PLC. She is also a non-executive director at BAE Systems PLC, but will be stepping down from this position before January 1, 2021.
National Grid Senior Independent Director Mark Williamson said: "Paula has a highly successful track record as a chief executive across the energy and insurance industries and has over 20 years' experience as a non-executive director in both the UK and US across multiple sectors and businesses."
In a separate announcement, defence, security, and aerospace company BAE Systems confirmed Reynolds' exit as non-executive director from the company on December 31. The company said Ian Tyler will succeed Reynolds as chair of the remuneration committee.
National Grid shares were down 0.4% at 855.60 pence each on Thursday morning in London. BAE Systems shares were down 0.7% at 511.00p each.
By Greg Roxburgh; [email protected]
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