A FORMER Cabinet minister has been appointed to the board of Warwick-based power utility National Grid.
Ruth Kelly, who was a secretary of state in both Tony Blair and Gordon Brown’s governments, has joined National Grid as a non-executive director.
She works as an economist and managing director for HSBC after joining its corporate development team in May last year following the 2010 General Election.
She was an MP for 13 years and her government roles included secretary of state for transport, communities and local government, education and financial secretary to the treasury.
She is also a governor for the National Institute of Economic and Social Research and possesses a MSc in economics from the London School of Economics.
National Grid chairman Sir John Parker said: “I warmly welcome Ruth to the board.
“Ruth brings a wealth of financial and economic experience, knowledge of large infrastructure projects and the regulatory interfaces from her years in the higher levels of government and in her current role at HSBC.”
In a separate announcement, National Grid said today the final issue from its RPI-linked 10-year sterling bond was £260m.
The plc launched the first ever corporate bond for private investors which links its income to the retail prices index.
Previously, it had only ever offered this type of bond to major institutional investors and denominations of £100 were available.
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