National Grid boss John Pettigrew will retire this year after almost a decade leading the energy infrastructure giant.
The group said Pettigrew, who joined National Grid as a graduate in 1991 before taking on a variety of senior roles, would depart in November.
He will be succeeded by Zoë Yujnovich, who until recently was a member of Shell’s executive committee and the energy group’s director for integrated gas and upstream.
Yujnovich, who has also held senior roles at mining giant Rio Tinto, will join in September before taking on the top job when Pettigrew exits two months later.
She will be charged with overseeing National Grid’s ongoing strategy shake-up, which sees the group refocus its investments and streamline operations since May last year.
National Grid, which manages Britain’s energy network but also runs gas and electricity businesses in the US, unveiled plans in December to invest £35billion in its electricity-transmission business as part of an upgrade to Britain’s energy infrastructure.
National Grid’s next CEO Zoë Yujnovich
Outgoing Pettigrew said Yujnovich has ‘all the attributes required to deliver on the significant growth opportunity ahead and to guide National Grid on the next stage of its journey’.
Chair Paula Reynolds added: ‘An internationalist in outlook, she has a strong sense of purpose and is an inspiring leader.
‘Further, she will arrive with a notable track record of delivering complicated, large scale capital projects in complex political environments.’
National Grid shares were down 1 per cent to 1,072.5p in early trading. They have added around 10 per cent over the last 12 months.
Yujnovich said: ‘I firmly believe in the vital function energy companies play in driving change and creating value.
‘On both sides of the Atlantic, National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities.
‘I’m excited about leading National Grid as it delivers on the growth opportunities ahead.’
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This article was originally published by a www.dailymail.co.uk . Read the Original article here. .