04/05/2012
John Warren appointed non-executive director of Glas Cymru
Glas Cymru, the “not-for-profit” owner of Dwr Cymru Welsh Water, announces that John Warren is today joining the Boards of Glas Cymru Cyfyngedig and Dwr Cymru Cyfyngedig as a non-executive director.
John will Chair the Audit Committee and in doing so will succeed Tony Hobson who will be retiring from the Board at the Company’s Annual General Meeting in July having served the Company for more than 11 years.
Until his retirement in 2005, John was Group Finance Director of W H Smith PLC and before that Group Finance Director of United Biscuits PLC, both major listed UK companies. John is currently a Non-executive Director of Spectris PLC, the FTSE manufacturer of precision instruments and industrial controls, where he is also Senior Independent Director and Chair of the Audit and Risk Committee. Since 2006, John has also been a Non-executive Director and Chair of the Audit Committee for Rank Group PLC, the entertainment company, and Bovis Homes PLC, the house-builder. John is a Chartered Accountant with more than 25 years’ experience in finance roles in customer goods companies and, more recently, has extensive experience in chairing audit committees of major UK listed companies.
John Warren said: “I am delighted to be joining the Boards of Glas Cymru and Dwr Cymru. The water industry is so very important and I hope to bring my experience to bear in helping the Company – and the unique “not for profit” business model it operates - tackle the challenges that lie ahead. I am looking forward to being part of the team that I know places so much importance on doing the very best it can for the 1.3 million customers that rely on Dwr Cymru - day in, day out - for the most essential of public services.”
Robert Ayling, Chairman of Glas Cymru, said: “I am delighted that John is joining the Board as a Non-executive Director. He brings an extensive and diverse financial and business track record which will be invaluable as we continue to strive to make Dwr Cymru the leading water company in the sector and demonstrate that our unique “not for profit” business model can deliver excellent outcomes for our customers and for the natural environment we look after.
“Tony Hobson will be stepping down from the Board at the Company’s AGM in July and I would like to put on record our thanks for all that he has done for the Company and the immense contribution he has made since he joined the Board as one of the founder Directors in 2001. “
END
Notes for editors:
Background information on Glas Cymru:
The Board of Directors is chaired by Robert Ayling and comprises three executive directors - Nigel Annett, Chris Jones and Peter Perry - and six non-executive directors - John Bryant (Senior Independent Director), Tony Hobson, James Strachan, Stephen Palmer, Menna Richards and Anna Walker. Details of all Directors can be obtained from the company’s website:
http://www.dwrcymru.com/English/Company/Glascymru/Directors/index.asp
Glas Cymru has owned Dwr Cymru (the 6th largest of the UK’s regulated water and sewerage companies) since May 2001. As a “company limited by guarantee” Glas Cymru has no shareholders, which ensures that all financial surpluses generated are retained and reinvested for the benefit of Dwr Cymru and its customers. Under the unique Glas Cymru business model the important corporate governance role of shareholders is performed by the Members of Glas Cymru, who are individuals appointed on the recommendation of an independent panel and who do not receive dividends or have any other financial interest in the company.
Glas Cymru’s constitution strictly limits its purpose to that of financing water assets in Dwr Cymru’s area of appointment and managing its business sustainably so that high quality water and sewerage services are delivered at least cost. Glas Cymru cannot diversify into other unrelated commercial activities.
John Warren, who will also be a member of the Remuneration, Nomination and Finance Committees of the Board, will stand for election as a Director at the 2012 Annual General Meeting of Glas Cymru.
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