The Thames Water Utilities Board comprises 15 directors, 12 of whom are non-executive, together with three executive directors, namely the Chief Executive Officer (CEO), Chief Financial Officer (CFO) and Chief Operating Officer (COO).
Between them, the directors have a wealth of management and financial experience, together with extensive specialist knowledge of the water industry and other regulated utilities.
Both the Board and Ofwat consider three of the directors to be independent non-executives.
The current members of the Board are listed below:
Chairman
Sir Peter Mason KBE
Sir Peter became Chairman of Thames Water in December 2006, and brings extensive experience in engineering, construction and complex capital investment businesses.
He retired as CEO of AMEC plc in September 2006, and previously was Chairman and CEO of Balfour Beatty Limited. Sir Peter is currently the senior non-executive director of BAE Systems plc and of Subsea 7 S.A., and until October 2008 was a board member of the 2012 Olympic Delivery Authority.
Sir Peter was made a Knight Commander of the British Empire (KBE) for services to International trade in 2002.
Executive directors
Martin Baggs, Chief Executive Officer
Martin was appointed Chief Executive Officer of Thames Water on March 2010, having previously served as Interim Chief Executive Officer from December 2009.
Stuart Siddall, Chief Financial Officer
Stuart Siddall joined Thames Water in September 2011, having previously held the position of Chief Executive of The Association of Corporate Treasurers.
Steve Shine OBE, Chief Operating Officer
Steve Shine OBE joined Thames Water in January 2007 as Chief Operating Officer, having previously held the position of Chief Executive Officer at SGB UK, a position he occupied since 2003.
Non-executive directors
Ed Beckley
Ed became a non-executive director of Thames Water Utilities in January 2009, having served as an alternate since March 2008. He is an executive director of Macquarie Capital Funds and Chief Financial Officer of the Macquarie European Infrastructure Funds. Ed has a banking background and since joining Macquarie in 1999 has focussed on investing across a broad range of infrastructure sectors including, utilities, transportation, airports and telecommunications. He is a director of Techem AG and Wales & West Utilities.
Christopher Deacon
Christopher became a non-executive director of Thames Water Utilities in December 2006. He brings extensive experience as a banker and consultant in infrastructure and project finance. He was the commercial director of London Underground in respect of the Tube PPP project and is currently a non-executive director of various companies in the infrastructure marketplace.
Dipesh Shah
Dipesh became a non-executive director of Thames Water Utilities in October 2007. He sits on the franchise board of Lloyds of London. He was the chief executive of various businesses in the BP Group and non-executive director of Babcock International Group plc. He was chairman of a European trade association for a number of years in the 1990s and a member of the Government's Renewable Energy Advisory Committee from 1994 to 2002.
Martin Stanley
Martin became a director of Thames Water Utilities in December 2006. He is Chief Executive Officer of the Macquarie European Investment Fund LP and an executive director of Macquarie Investment Banking Group. He is a board member of Airwave Solutions Ltd and National Car Parks Ltd. He was formerly a board member of South East Water Limited and Wales & West Utilities Limited. Before joining Macquarie in July 2004, he was a director of TXU Europe Group plc.
Gordon Parsons
Gordon became a non-executive director of Thames Water Utilities in June 2010. He is a director of Macquarie Capital Funds and has responsibility for Macquarie's UK Infrastructure Assets. Prior to joining Macquarie, Gordon held directorships in organisations operating in the energy industry, including RWE, TXU Europe, E.on (formerly Powergen) and East Midlands Electricity.
Luis Abraira
Luis became a non-executive director of Thames Water Utilities in August 2011. He is a partner of Santander Infrastructures - II and has over 18 years' experience of working for the Santander Group, holding various senior postions. He holds a B.A. in Law, a B.A. in Economic Science and Business Studies from the University of Pontificia Comillas (ICADE) in Madrid and an MBA from IESE in Barcelona.
Robert Verrion
Robert became a non-executive director of Thames Water Utilities in January 2011 having served as an alternate since January 2010. He is Head of European Infrastructure Asset Management at AMP Capital Investors with over 20 years financial, operational and international business development experience in the natural gas transmission and distribution industry. A former CEO of Angel Trains Ltd and finance director of Severn Trent Water Ltd and Transco plc.
Independent non-executive directors
Michael Pavia
Michael became a non-executive director of Thames Water Utilities in December 2006. He brings extensive experience in management of regulated businesses. He was previously group finance director of SEEBOARD group, chief financial officer of the London Electricity Group and non-executive chairman of WHAM Energy plc. He is currently a non-executive director of Salamander Energy plc.
Dame Deirdre Hutton CBE
Dame Deirdre Hutton was appointed as an independent non-executive director of Thames Water Utilities in July 2010. She is Chair of the Civil Aviation Authority and also sits as a non-executive member of the Treasury. She was previously Chair of both the National Consumer Council and Food Standards Agency and formerly Vice President of the Trading Standards Institute. She has also held a number of positions on a variety of bodies dealing with food issues.
Ed Richards
Ed Richards was appointed as an independent non-executive director of Thames Water Utilities in July 2010. He has been the Chief Executive of Ofcom since October 2006, having previously been the Chief Operating Officer. He was previously a senior government policy advisor on media and telecoms and began his career as a researcher with Diverse Production Ltd where he worked on programmes for Channel 4. He is also a Director of Donmar Warehouse and the Teaching Awards Trust and a member of the Centre for Economic Performance Policy Committee at the London School of Economics.
