National Grid appoints UK and US presidents in management shake-up Proactive uses images sourced from Shutterstock
National Grid PLC (LSE:NG.) said it is overhauling its operating structure, placing its businesses under single UK and US geographic leaders and with the aim of improving accountability and delivering its £70 billion investment programme.
The new structure, which takes effect on 1 September, will see the geographic leaders supported by dedicated global teams for capital delivery and technology and innovation, with the executive committee cut from 13 members to eight.
Finance, led by the chief financial officer, will take sole responsibility for group strategy, mergers and acquisitions, and growth.
Cordi O’Hara, currently president of the UK electricity distribution arm, has been appointed president of the UK business, with responsibility for both electricity distribution and transmission.
Sally Librera will become interim president of the US operation while National Grid conducts an internal and external search for a permanent appointee.
National Grid Ventures’ activities will also fall under the relevant geographic president.
Chief executive Zoë Yujnovich said the group’s commitment to invest at least £70 billion in modernising and expanding energy networks across the UK and the US Northeast required “absolute clarity of accountability and a relentless focus on performance”.
“By empowering dedicated geographic leaders to focus on business performance, supported by clear owners of both Global Capital delivery, and Technology and Innovation, we are better positioned to continuously improve performance,” she added.
The changes do not affect National Grid’s financial reporting structure. It will continue to report UK electricity transmission, UK electricity distribution, New York, New England and National Grid Ventures separately.