PN 06/16 Ofwat confirms new Board appointments

Ofwat has today confirmed that the Secretary of State for Environment, Food and Rural Affairs has appointed three new non-executive and two executive members to its Board, following a joint process by Defra, the Welsh Government and Ofwat.

The three new non-executive members are:

  • Mark Bayley. After an early career as an investment banker, Mark was Finance Director then Chief Executive of LCR, the developer of the High Speed 1 rail project and owner of the U.K. arm of Eurostar. He is also the former Chief Executive of the Green Deal Finance Company.
  • Alison Munro. Alison is the current Managing Director (Development) and former CEO of HS2. An economist and a long-standing civil servant, Alison has experience of strategic and operational skills developed at HS2. Alison will also take on the role of Chair of the Audit and Risk Assurance Committee.
  • Tim Waggott. Tim is the Chief Executive of the Port of Dover and has a long career in this infrastructure sector.

Following the recent announcement by Ofwat’s Chief Executive, Cathryn Ross, on changes to the Senior Leadership Team within the executive, Ofwat proposed to the Secretary of State that John Russell and Aileen Armstrong, two new Senior Directors joining Ofwat in the summer, join the Ofwat Board as Executive members.

  • Aileen Armstrong has been head of the Competition, Markets and Regulation Team at HM Treasury since 2013, working across government to improve public and private markets through greater competition and effective regulation. She has twenty years’ experience across the public sector. Before HM Treasury, she held policy and delivery roles in the Competition Commission and the OFT (now the CMA), Whitehall departments and the European Commission.
  • John Russell is currently working in Shell’s Group strategy and business environment teams where he is global manager for Shell’s work on city development in Indonesia, India and the Philippines. He also leads Shell’s international programme of Energy Transition engagements. Before his secondment to Shell, John had a long career in the British Civil Service including as Chief Operating Officer for Infrastructure UK in HM Treasury.

Jonson Cox, Chair of Ofwat, said:

“I’m pleased to welcome our new Board members, who will complement the strong team we already have. The breadth of experience and expertise in the non-executive appointments will provide sound advice and constructive challenge to the team.

“Mark brings experience in capital markets both as a banker and in the infrastructure sector, together a valuable perspective on customer issues from his recent role. Alison has a broad range of policy, strategic and infrastructure development skills. Her accounting officer experience will benefit our Audit and Risk Assurance Committee. As Chief Executive of the Port of Dover, Tim will bring insight into the investment of infrastructure for the benefit of customers, investors and the wider community.

“On the executive appointments, Aileen’s recent experience of working in the Treasury, coupled with earlier competition experience equip her well for the role of holding water companies to account for their performance, board leadership and governance, and their financial structures. John brings experience of infrastructure development and strategy, together with earlier regulatory experience at Oftel and recent commercial experience in Shell. He will also provide strong support to the Board as an executive member responsible for strategy.”

The appointments come as three non-executive members of Ofwat’s Board – Robin Paynter Bryant, Wendy Barnes and Chris Burchell – have regrettably come to the end of their terms and will be stepping down. Keith Mason, executive member, has reached the end of his term and will also be stepping down. Keith recently accepted a new role as Senior Director, Thames Tideway, and will be taking on other regulatory roles building on his experience of leading the successful Thames Tideway Tunnel licence award project.

Jonson Cox, said:

“I would like to thank all our departing non-executive colleagues on the Board for their outstanding contributions over recent years. Each has contributed beyond the call of duty across a challenging agenda. Among all their contributions, I would like to thank Robin for his help to our team in understanding the capital markets; Wendy for bringing valuable experience from her public sector background to the Board and in her approach to risk assurance; and Chris for his wide-ranging strategic and operational insights and experience. Each will be missed and depart with our gratitude for the immense contribution they have made over a very challenging period.

“We could not have delivered the successful rebuild of Ofwat and delivery of PR14 without the help of all our non-executive board members.

“Keith has been a stalwart member of Ofwat’s management over a long period and he has contributed much to the Board. I very much look forward to his continuing support in this new role, together with the contribution he will make to the wider regulatory world.”

ENDS

Notes to editor

  1. The appointments have been made in accordance with the Code of Practice issued by the Commissioner for Public Appointments. All appointments are made on merit and political activity plays no part in the selection process. The new Board members have not declared any significant political activity.