Change in US for National Grid

MIDLAND utility National Grid has announced that its US executive director, Tom King, is to leave the company at the end of the current financial year.

He will be succeeded by Dean Seavers, a former GE executive, who will join the company in December 2014 and, following a thorough handover, will join the board as Executive Director US with effect from April 1, 2015.

Steve Holliday, Chief Executive of National Grid, said: “Through Tom’s leadership over the last seven years our US business has successfully delivered improving returns, better customer service and network reliability. This was all achieved during a period of significant regulatory engagement throughout which Tom’s experience and judgment has been invaluable.

“He leaves behind an organisation with strong jurisdictional and regulatory teams and a clear operational focus that drives customer service improvements and efficiencies, a testament to his contribution. I wish Tom well in his future ventures.

“I am delighted we have been able to find such a strong successor to Tom. We have an exciting growth agenda in the US. Dean brings a wealth of experience in delivering performance improvement which will benefit us as we continue to improve our customer service, drive efficiencies and increase overall returns.”

eg solutions begins hunt for new CFO

STAFFORDSHIRE-based back office optimisation software company, eg solutions, has announced that Paul Hoban, its Chief Financial Officer, is to resign from his position and the board of directors.  

The company said it had begun the process of finding a replacement but said Hoban would remain with the group for his notice period to help identify a suitable replacement and ensure an orderly hand over.
 
Elizabeth Gooch, acting CEO of eg solutions said: “We’d like to thank Paul for his hard work and support during the last seven years. He leaves the company with a strong financial reporting function. The board wishes Paul the best of luck with future endeavours.”
 

Strong Q3 for security group Assa Abloy

SECURITY group Assa Abloy has seen Q3 sales rise 21% to £1,262m (SKr 14,727m), with organic growth for comparable units standing at 4%.

President and chief executive Johan Molin said: “The third quarter and the first nine months of the year continued to show a very good development for Assa Abloy. The first nine months sales increased a full 16% and a very satisfying improvement of 15% in operating income.

“In the third quarter organic growth returned to 4%, driven by a globally stable demand situation. The Americas and Entrance Systems divisions showed strong growth, driven by an improved demand situation in the USA, while EMEA and Asia Pacific showed good growth.

“The weakening of demand on the emerging markets in Asia, Africa and South America continued during the quarter. In spite of this, Assa Abloy showed continued good growth as a result of constant investments in increased market presence.”

The group’s UK base is in Willenhall.