Thames brings in industry heavyweight as chair

Thames Water has announced the appointment of Sir Adrian Montague as its new chair.

Montague will join Thames on 10 July, succeeding Ian Marchant who announced in April this year his intention to step down once the company had appointed his successor.

Montague is currently chairman of Cadent Gas, and Porterbrook Holdings. He has been chair of Manchester Airports Group since 2014, but is retiring from that position in September 2023.  

He has previously held a number of other chairman roles including at Anglian Water Group, Aviva and 3i Group plc.

He joins with Thames in turmoil. Fears that the company is facing collapse surfaced this week after the shock resignation of the company’s chief executive Sarah Bentley on Tuesday (27 June).

Montague has previously been drafted in to tackle a crisis.

In 2002, he was brought in as chairman of British Energy when the UK nuclear plant operator got into financial trouble, leading the company’s restructuring, recovery and eventual sale to EDF.

Montague also played a key role in the formation of Network Rail in 2001 after its predecessor Railtrack fell into administration.

Montague said: “It is a privilege to join the board of Thames Water and follow Ian as Chairman. I very much enjoyed my previous role in the water industry and am pleased to be re-joining the sector at a critical time given the challenges it currently faces.

“I now look forward to working with the Board and Executive team and Thames Water’s regulators and investors, to focus on the Company’s turnaround plan and its future financing needs to ensure it delivers on its responsibilities to serve its customers and communities well and benefit the environment.”

Marchant added: “Adrian’s breadth of experience and deep knowledge of infrastructure businesses and the utilities sector, particularly the water industry, stand him in an excellent position to succeed me and lead the Thames Water Board.”