UK’s biggest water company announces shock CEO resignation


The UK’s monopoly water company, Thames Water has announced that its CEO Steve Robertson has resigned with immediate effect.

He will however, remain an employ of Thames Water until 30 June 2019, “to ensure an orderly transition” and will work with company chairman Ian Marchant, who will temporarily take the role of Interim Executive Chairman until a new CEO is found and appointed.

The company, dogged of late with falling profits, infrastructure leaks and increased customer complaints, praised Robertson who has served as CEO since September 2016, saying he had “successfully transformed” the firm “in a challenging environment”, further going on to say that under his leadership Thames Water has “increased its focus on customer satisfaction, improved incident response capabilities, expanded support for vulnerable families and invested more than £2 billion in the network to improve overall performance”.

The company has been issued more than £128 million (just over $160 million) for poor leak management.

Mr Marchant, who has served as independent chairman since 2018 said “On behalf of the Board, I would like to thank Steve for his service as CEO and wish him all the best. He has done a great job leading the company through significant change, putting the building blocks in place for its long-term success.

“We need to continue to ensure that Thames Water is an organisation that both customers and staff feel proud of. We remain fully committed to our proposed business plan focused on providing industry-leading customer service through a substantial investment programme which we are determined to deliver.

“We look forward to working with our key stakeholders to make it happen. We play a vital role in the lives of millions of people and we are relied on to meet that responsibility each day. That is the challenge that the executive team, the board and I are all focused on.”