Under fire water firm boss plans to retire

THE boss of South West Water parent company Pennon has revealed plans to retire from the firm.

- by STAFF REPORTER

It comes days after the company agreed to a £24 million package of improvements following an industry watchdog report into wastewater treatment failures.

Susan Davy said she will step down as chief executive and director on South West Water owner Pennon’s board after 18 years with the company.

The firm said it will conduct a formal process to appoint her successor, with Ms Davy remaining at the head of the business until the new chief executive is agreed upon.

Ms Davy said it is a “natural juncture” to retire from the business after it agreed a £3.2 billion investment plan with regulator Ofwat in December last year. She received a pay package worth £803,000 for the latest financial year after receiving £191,000 in long-term bonuses.

The departure plan also comes after South West Water agreed to a £24m enforcement package, to be paid by the company and its shareholders, to invest in its systems and address failures identified by Ofwat.