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Anglian Water’s chief financial officer Steve Buck is leaving to take up the equivalent role at Pennon, the parent company of South West, Bristol and Bournemouth water companies.
Paul Boote, current CFO at Pennon, will step down at the end of 2023 after 13 years in the role for family reasons.
Buck will be appointed to the Pennon board in November, ahead of assuming the role of CFO at Pennon and its subsidiaries from the end of December. He has been with Anglian for four years in a role that covers finance, treasury, regulation and transformation, as well as sitting on the board. Previously he was head of finance and transformation at Centrica and finance director at British Gas.
Prior to British Gas Buck spent 16 years working in the water sector at South East and Thames.
During Boote’s time with Pennon, the group has grown with the acquisitions of Bournemouth and Bristol. It sold waste management business Viridor and expressed an intention to focus on the water business and growth opportunities within that space.
His role expanded from finance director to CFO after Bristol was integrated into the rest of the business in 2022.
Chief executive Susan Davy said: “I would like to thank Paul for his contribution to Pennon over the past 13 years, most recently stepping up as a member of the board and to the role of chief financial officer. I would like to thank him for the support he has given me personally and I wish him and his family the best for their future.”
Boote said: “It has been a great privilege to serve Pennon over the past 13 years, and to have played a pivotal role supporting Susan in the strategic development of the group during this time, including a number of landmark transactions.”
Davy added: “The board and I are delighted to welcome Steve to Pennon Group. He brings significant water sector expertise, alongside broad regulated utilities sector knowledge and listed experience. Steve will be pivotal in helping to drive forward the next chapter in Pennon’s growth strategy and continued leadership in the UK water sector.”
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