Thames Water has announced that its Chief Executive Officer Water David Owens is stepping down with immediate effect.
Mr. Owens became CEO of Thames Water in December 2006. Under his leadership the company refocused on core business - its customers, its operations and its infrastructure - to deliver significant improvements in operational performance and reputation.
"On behalf of the Board, I would like to thank David for his leadership and commitment to making Thames Water a company we can all be proud of," said Sir Peter Mason, Chairman of Thames Water Utilities Limited.
"Under David's leadership, Thames Water has gone from strength to strength, and this year expects to deliver its best-ever performance. The fundamentals are now in place to ensure the company continues consistent, strong performance for our customers. A search is under way for a new CEO to lead Thames Water in this next stage of its development."
Mr. Owens said:
"After leading the turn around of Thames Water for the last three years, I am now looking forward to my next challenge. It has been a privilege to lead Thames Water and I have very much enjoyed working at Thames and would like to thank both the Executive Management Team and the rest of the staff for the support and commitment they have shown me. I would like to wish the company the best for the future."
Martin Baggs will be interim CEO of Thames Water. Mr. Baggs has been a member of the Thames Water Board since December 2006. He has extensive water industry experience, both as the former Managing Director of South East Water and, prior to that, Operations and Assets Director of Southern Water.
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