(Reuters) -British water utility Severn Trent said on Wednesday that its chief executive Liv Garfield will step down after 11 years in the role, and will be replaced by insider James Jesic on January 1, 2026.
Jesic is currently the director of capital and commercial services at Severn Trent.
“Having made a strong start to the largest ever investment programme, Liv and the Board agree that this is the right time to transition to a new CEO,” the company said in a statement, referring to its 15 billion-pound ($19.72 billion) investment programme between 2025 and 2030.
Severn Trent’s shares have risen nearly 53% during Garfield’s tenure.
The company also posted a pretax profit of 307.8 million pounds for the six months to September 30, up from 192.3 million pounds a year earlier.
($1 = 0.7607 pounds)
(Reporting by Ankita Bora in Bengaluru; Editing by Sonia Cheema)
