South West Water boss Susan Davy to retire
Susan Davy, who is also on the board of Pennon Group, served as CEO for five years and has been chief financial officer since 2015.
She said: "Running a water company is always interesting, often challenging, but totally fulfilling. I have enjoyed taking responsibility for the provision of a sustainable service to millions of homes."
A £24m enforcement package for South West Water (SWW) was proposed on Thursday after a three-year investigation into its failures in managing wastewater treatment works and sewer networks.
David Sproul, chairman of Pennon Group, said Ms Davy had navigated the group through some "challenging external headwinds to emerge stronger and more resilient".
"Susan will continue to lead the group whilst we appoint her successor, ensuring a smooth and orderly succession," he said.
A statement from Pennon Group added: "After more than 18 years with the group, and nearly 30 years in the water sector, Susan has decided the time is right for her to hand over to a new leader."
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