25th Nov 2005 14:25
Northumbrian Water Group PLC25 November 2005 Northumbrian Water Group plc Northumbrian Water Limited Board Changes The Board of Northumbrian Water Group plc ("NWG") announces that its Chairman,Sir Frederick Holliday, has indicated that having reached the age of 70 heintends to retire from the Board at the Annual General Meeting on 27th July2006. The Board has decided, following consultation with major shareholders, that SirDerek Wanless will succeed Sir Frederick as Chairman of NWG. The Board will be sad to lose the strong leadership, wisdom and humanity, whichSir Frederick brought to its deliberations. It is confident that Sir Derek willbe an outstanding successor. Sir Derek Wanless was Chief Executive of theNatwest Group between 1992 and 1999. He has been a non-executive director of NWGsince December 2003 and is also a non-executive director of Northern Rock plc. Sir Frederick Holliday said. "We are delighted that Derek will become the nextChairman of Northumbrian Water Group. His knowledge and experience will be atremendous asset to the Group in the years ahead." NWG has a clear and increasing focus on its core water and sewerage business,Northumbrian Water Limited ("NWL"), its principal subsidiary. Given theimportance of NWL's business within NWG, the Boards of NWG and NWL have agreedto appoint the non-executive directors of NWG, Sir Patrick Brown, Ron Lepin,Martin Negre, Sir Derek Wanless and Jenny Williams, to the Board of NWL. SirDerek will also chair the Board of NWL following Sir Frederick's retirement. These appointments, which will take effect from 1 January 2006, have beendiscussed with Philip Fletcher, the Director General of Water Services. Theexisting non-executive directors of NWL, Alastair Balls, Anita Frew and AlexScott-Barrett, will continue to serve on the NWL Board which will remaincompliant with NWL's licence obligations in respect of independent directors. For further information contact: Northumbrian Water 0191 301 6166John Mowbray Finsbury 020 7251 3801Andrew MitchellSally Hogan This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Natwest