Ofwat chief executive David Black to stand down

Yahoo

a day ago

The chief executive of Ofwat is to step down as the embattled water regulator prepares to be abolished.
David Black will leave the role at the end of August and an interim chief executive will be appointed in due course.
The Government last month announced the regulator would be axed in a regulatory shake-up that comes as part of its response to public outrage over rising bills, sewage pollution and large bonuses for bosses.
Ofwat may not be formally axed until at least 2027 because the process to overhaul the current system is likely to be complex.
The regulator said Mr Black, who took over as chief executive in 2021 and had worked in various roles at Ofwat since 2012, had decided the time is right for him to pursue new opportunities.
He said: 'I have been privileged to be able to lead Ofwat over the last four years, during which time we have achieved a huge amount together as a team for customers and the environment.
'The 2024 price review backed an investment programme of £104 billion, along with a further £50 billion investment in major new water resources, which will improve service, environmental outcomes and resilience in the years to come.
'I wish the team every success as they continue their important work.'
Under Government plans, measures will be rolled out to merge the regulatory responsibilities of four different bodies into one 'single, powerful' regulator responsible for the whole sector.
Currently, the Environment Agency, Ofwat, Natural England and the Drinking Water Inspectorate all oversee different areas of the privatised sector.
The decision to pull them together came in response to an independent review by Sir Jon Cunliffe which called for the move, as one of 88 measures to tackle problems in the water sector.
The review was commissioned by the Government to answer public fury over the ailing state of the UK's water industry.
Ofwat chairman Iain Coucher said: 'David has worked, tirelessly, to bring about transformational change in the water sector.
'He has sought new regulatory powers and resources to hold companies to account, taken major enforcement action and provided funding and incentive packages that drive continual improvements for customers.
'On behalf of the board and everyone at Ofwat, I would like to thank David for his leadership and his service over the last 13 years and to wish him every success in the future.'