Ofwat has just released an official statement confirming that Chief Executive David Black is to stand down.
Following the announcement by Defra that Ofwat is to be transferred into a new, integrated water regulator, the statement says that David Black, Chief Executive, has decided the time is right for him to pursue new opportunities.
Commenting on his decision, David Black said:
“I have been privileged to be able to lead Ofwat, over the last four years, during which time we have achieved a huge amount together as a team for customers and the environment. The 2024 price review backed an investment programme of £104 billion, along with a further £50 billion investment in major new water resources, which will improve service, environmental outcomes and resilience in the years to come. I wish the team every success as they continue their important work.
The Chair of Ofwat, Iain Coucher, said:
“David has worked, tirelessly, to bring about transformational change in the water sector. He has sought new regulatory powers and resources to hold companies to account, taken major enforcement action and provided funding and incentive packages that drive continual improvements for customers.
On behalf of the Board and everyone at Ofwat, I would like to thank David for his leadership and his service over the last 13 years and to wish him every success in the future.”
David Black will be standing down at the end of August and an interim appointment will be made in due course.
The statement follows a report by Sky News shortly before 5pm that David Black, Chief Executive of water sector regulator Ofwat was preparing to step down from the role following discussions with its board, led by chairman Iain Coucher.
Sky quoted "insiders" as saying the relationship between Mr Coucher and Mr Black had been "under strain for some time." Speaking on Sky News, City Editor Mark Kleinman said "Mr. Black apparently does not have the confidence of Government Ministers that he would be in line to do the job of running the broader regulator that replaces Ofwat and he has decided to step down."
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