LONDON (ShareCast) - Water company Severn Trent has announced the intention of its Chief Executive Officer, Tony Wray, to retire from the company in spring next year, by which time he will have been in the role for seven years.

The group has now begun the process of identifying candidates for the position both internally and externally, it said.

Wray will lead the company for the next year, overseeing the submission of its Final Business Plan to Ofwat for PR14 and manage an orderly handover to his successor.

Severn Trent Chairman, Andrew Duff said: "Tony is a highly effective Chief Executive of Severn Trent. Under his leadership the business has undergone significant transformations and operational improvement.

"Tony has also been an influential voice within the industry and has played a significant part in setting its future direction.

"With a strong Executive team in place the timing of this decision provides Severn Trent with continuity of leadership and the necessary time to search for and identify his successor."

NR

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE