Thames Water creditors secure former Labour minister to drive rescue deal
Stricken UK water supplier lines up John Hutton as independent chair designate if takeover goes ahead The group of Thames Water creditors pursuing a £10bn rescue deal for Britain’s largest water supplier has lined up a former senior Labour minister to chair the company, as it tries to win over the government. The creditor consortium, called London & Valley Water, said on Tuesday that Lord John…
UK water supplier Thames Water has secured Lord John Hutton as the independent chair designate of the company's board, should a £10bn rescue deal go ahead. The creditor consortium, London & Valley Water, announced the appointment, stating Hutton will step in as chair if the takeover is approved by the government. The debt-laden utility serves 16 million customers in southern England and has been struggling to avoid bankruptcy for years.
Hutton, a former senior Labour minister, has extensive experience in public policy, energy, and infrastructure, having served in several government roles and chaired various associations. In a statement, Hutton expressed his enthusiasm for taking on the new leadership role at Thames Water, focusing on delivering top-notch customer service and environmental stewardship.
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