BA18 Thames Wuf 6.5%

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RNS Number : 4394E

Thames Water Utilities Finance PLC

29 June 2023

29 June 2023

Thames Water appoints new Chairman

Thames Water Utilities Finance plc announces the appointment of Sir Adrian Montague as Director and Chairman of Thames Water Utilities Limited ("Thames Water" or the "Company"). Sir Adrian will join the Board of Thames Water on 10 July 2023 succeeding Ian Marchant who announced in April this year his intention to step down once the Company had appointed his successor.

Sir Adrian Montague is currently Chairman of Cadent Gas Limited, and Porterbrook Holdings Limited. He has been Chair of Manchester Airports Group since 2014, but is retiring from that position in September 2023 on completion of 9 years' service. He has previously held a number of Chairman roles including Anglian Water Group Limited, Aviva plc, British Energy plc and 3i Group plc.

Sir Adrian is a highly experienced Chair both of privately owned businesses and listed companies. He has a very strong background as a lawyer, banker and Chair of large infrastructure businesses and investors and understands the water sector having been Chair of Anglian Water for five years between 2010 and 2015. From 2003 to 2010 he was Chair of British Energy, leading that company's restructuring, recovery and eventual sale to EdF.

Ian Marchant, outgoing Chairman of Thames Water said : "I am delighted to be handing the Chair reins to Adrian as my successor. Adrian's breadth of experience and deep knowledge of infrastructure businesses and the utilities sector, particularly the water industry, stand him in an excellent position to succeed me and lead the Thames Water Board. Adrian also has extensive experience in the UK regulatory framework of the utilities and water sector."

Sir Adrian Montague said : "It is a privilege to join the Board of Thames Water and follow Ian as Chairman. I very much enjoyed my previous role in the water industry and am pleased to be re-joining the sector at a critical time given the challenges it currently faces. I now look forward to working with the Board and Executive team and Thames Water's regulators and investors, to focus on the Company's turnaround plan and its future financing needs to ensure it delivers on its responsibilities to serve its customers and communities well and benefit the environment."

The Board would like to express its appreciation and gratitude for the leadership Ian has demonstrated in guiding Thames Water through a challenging period for the water industry. As an industry leader Ian has played a key role in contributing to Thames Water's future and we wish him every success going forward.

For more information

Sarah Davies (Head of Investor Relations) - sarah.davies@thameswater.co.uk

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June 29, 2023 11:08 ET (15:08 GMT)

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