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National Grid has secured executive headhunters Zygos to find a successor for long-standing chief executive Steve Holliday, said Sky News.
In a report late last week Sky said that National Grid would consider internal promotion as well as UK-based and overseas candidates to fill Holliday’s role from next summer.
In June this year The Times tipped National Grid’s current chief financial officer Andrew Bonfield as the most likely candidate to replace Holliday, and RBC Capital views chief operating officer of National Grid’ regulated business, John Pettigrew, as another likely option.
“The potential limiting factor for John Pettigrew is his lack of experience with investors given he has not spent much time in the public eye,” the analysts noted.
Holliday first joined National Grid as board director in 2001. Following the merger between National Grid Group and Lattice Group in October 2002 he took responsibility for the electricity and gas transmission businesses. And he was then quickly promoted from head of transmission operations to group director responsible for UK Gas Distribution and Business Services.
National Grid has declined to comment on reports that Holliday will step down, but Sky says he may be in line to play a role in the newly formed National Infrastructure Commission set up by George Osborne last month.
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