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Nicola Shaw is to step down from National Grid’s board at the end of July and leave the company after the Competition & Markets Authority (CMA) rules on its RIIO2 appeal.
National Grid said that following its “strategic pivot” towards power, with the acquisition of Western Power Distribution and decision to sell its gas transmission arm, the role of UK executive director would not exist in the new operating model.
In its full year results announcement this morning, National Grid announced a new structure with six business units split evenly between its UK and US arms. In the UK this will incorporate electricity transmission, gas transmission and the electricity system operator (ESO).
Shaw will stay with the company until the CMA appeals are concluded in October and continue as chair of National Grid Electricity Transmission and National Grid Gas, to help the new management teams.
Chief executive John Pettigrew said: “Nicola has been a key member of my management team since her appointment as UK executive director in 2016. She has been instrumental in navigating the company through the Ofgem regulatory price controls and a visible leader through the global pandemic. On behalf of the board I would like to thank Nicola for her significant contribution and support over the last five years and for the value that she has brought to the company in this time and wish her all the best for the future.”
The company also announced that former Eon chief executive Paul Golby, who has been a non-executive director at National Grid for the past nine years, is to step down at the annual general meeting in July.
Utility Week spoke to National Grid chief financial officer Andy Agg on the back of the results, where he gave an update on the acquisition of Western Power Distribution and the plan to sell a majority stake in the gas transmission business.
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