National Grid names new chief executive officer
WEST Midlands utility National Grid’s CEO Steve Holliday has informed the board that he wishes to retire and leave the company in 2016.
He will be succeeded as CEO by John Pettigrew, currently executive director of the group’s UK operations.
Holliday will remain CEO until the end of this financial year (31 March 2016) and on the board until July 2016, to support Pettigrew with the transition.
Holliday will leave National Grid after nearly a decade as CEO and 14 years on the board. He joined the company in 2001 as board member for UK Transmission after 20 years in the oil industry, and was appointed as CEO in 2006.
Pettigrew has been with National Grid for nearly 25 years and joined the board in 2014 as executive director UK.
During his time at the company he has held several senior management roles, becoming director of engineering in 2003, chief operating officer and executive vice president for the US electricity distribution & generation business in 2007, chief operating officer for UK gas distribution in 2010 and UK chief operating officer from 2012 to 2014.
Sir Peter Gershon, chairman of Warwick-based National Grid, said: “Steve has made a significant contribution to the energy sector and National Grid. Under Steve’s leadership the company has delivered excellent returns for shareholders ensuring its place as one of the world’s leading utilities.
“I am delighted that after a very thorough and rigorous selection process, carried out by the nominations committee, he will be succeeded by John Pettigrew who has run the major operational divisions of National Grid.
“The committee was unanimous in its support for John given his experience covering our UK and US operations. He was the architect of National Grid’s strategy for ensuring the delivery and out performance under the UK regulatory regime, RIIO. He also played a pivotal role in introducing improvements and demonstrating strong leadership within both the US electricity transmission and distribution businesses.”
Holliday said: “It has been a great privilege to have been part of shaping National Grid’s success over the past 14 years. The business is in a strong position with good regulatory frameworks and excellent prospects for growth, and I am pleased to be leaving National Grid in the very capable hands of John Pettigrew and a high performing management team.”
Pettigrew said: “I look forward to working with our customers, shareholders, partners and employees to meet the challenges and opportunities of the changing UK and US energy landscapes.”
Pettigrew has been appointed on an annual salary of £825,000, effective from 1 April 2016.
