Severn Trent Chief Wray to Retire From U.K. Water Company Post
Stock Chart for Severn Trent PLC (SVT)
Tony Wray, chief executive officer of Severn Trent Plc (SVT), the U.K.’s second-largest publicly traded water company, is retiring next spring, the utility announced.
Wray informed the board of his plans to ensure time to search for successor, oversee submission of a final business plan for price review to the U.K. regulator Ofwat and “manage an orderly handover,” the company said today in a statement.
Severn Trent said Wray will have served as CEO for seven years by the time he retires. The shares have risen 21 percent over the past year compared with a 27 percent gain by United Utilities Plc, Britain’s biggest water company by market value.
To contact the reporter on this story: Nadine Skoczylas in Jerusalem at firstname.lastname@example.org
To contact the editor responsible for this story: Randall Hackley at email@example.com