National Grid PLC Succession Plan to Appoint New Chairman (4507B)
30 Gennaio 2020 - 12:00PM
UK Regulatory
TIDMNG.
RNS Number : 4507B
National Grid PLC
30 January 2020
30 January 2020
National Grid plc ('National Grid' and 'Company')
Chairman Succession
National Grid today announces that following nearly nine years
at the Company, Sir Peter Gershon has informed the Board of his
intention to step down as Chairman and that the Board has started
the process to find a successor.
Sir Peter has been Chairman of National Grid since 1 January
2012, following his appointment to the Board on 1 August 2011 as
Deputy Chairman. In the 2018/19 Annual Report and Accounts we
informed investors that, due to the need to maintain continuity of
knowledge and experience during the conclusion of the RIIO-T2
process, the Nominations Committee had determined that it would be
in the Company's best interests for Sir Peter to remain as Chairman
for up to one year past his nine-year tenure to 2021.
The Nominations Committee, led by Senior Independent Director
Mark Williamson, is overseeing the externally supported search for
a suitable successor, ahead of making a formal recommendation to
the Board.
Sir Peter will be standing for re-election at the Company's AGM
in July 2020 and, in order to facilitate an effective succession,
it is intended that he remains as Chairman until his successor has
been successfully onboarded.
CONTACTS
Investors:
Nick Ashworth +44 (0)20 7004 3166
Media:
Molly Neal 07583 102727
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END
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