Pennon Group creates group CEO role

9th Dec 2015 07:52

(ShareCast News) - Pennon Group has created a new group chief executive role following a review of the water and waste company's corporate structure.Christopher Loughlin, who is currently the chief executive of its subsidiary South West Water, will take up the role on 1 January.Dr Stephen Bird, who is currently chief operating officer at South West Water, will take over as managing director.The new role came about following a review by the chairman, which found the future management and oversight of the FTSE 250 company would be better served with a group chief executive.Chairman Sir John Parker said Loughlin has a wealth of experience after nine years at South West Water."I am sure he will provide strong management from a group perspective and successfully lead the group in its future strategic development."The new role came about following a review by the chairman, which found the future management and oversight of the FTSE 250 company would be better served with a group chief executive.Ian James McAulay will continue to lead Pennon Group's other core business Viridor.