Thames Water chief executive Martin Baggs to step down
Thames Water chief executive Martin Baggs has announced plans to step down next year, the company said today.
Baggs has led the UK's largest water company for the past six years, but said today he will step down by the end of 2016.
"After spending all 30 years of my working life in the UK water industry… I have decided this is the right time for me to look for new challenges," he said.
Sir Peter Mason, the company's chairman, added that the company will begin its search for a new boss at the beginning of next year.
"Martin has done us a service by making his intentions clear at this early stage," he said.
"Martin has made a strong contribution to the water sector and to important discussions about the future infrastructure required to maintain London’s position as a major world city."