Severn Trent News Update: Liv Garfield Appointed
Severn Trent news update: Liv Garfield, the former head of strategy at BT has been announced as the fourth female to run a FTSE registered, UK based company.
Garfield was previously with the telecommunications company BT and held several top positions at the firm, including head of strategy and heading the rollout of the BT Openreach “superfast” broadband scheme. All of the positions she held at BT have allowed her to demonstrate her management skills which will be called upon in her time at Severn Trent.
She is joining one of the leading utility companies in a time when the industry as a whole are undergoing drastic changes. Several water supply and utility companies have faced the offer of takeover bids recently and Severn Trent are not exempt from this, but the Canadian based company who put in three bids, failed to reach their £5.3 billion expectations.
There is still a chance that Severn Trent will be faced with a bid that they wish to accept, but Garfield will think carefully about the company’s next move before any final decision is made. It was Tony Wray who held the position with Severn Trent before Garfield was awarded the role.
Severn Trent News Update
BT representative Gavin Patterson has wished her all the best in her new role and company and have emphasised the role she played at BT. Patterson praised the level of contribution that she put into the company and how much her presence, experience and contribution over the past 12 years will be greatly missed by all who still work there.
The benefits for Garfield include the pay package that she will now be receiving, which could total £2.4 million per annum. With the annual salary totalling £650000 and then the utility company offering a pension plan that will total a quarter of her salary, 120% bonus and a 125% long-term incentive share scheme. As if that wasn’t enough, the cash incentives that BT had in place for Garfield have been compensated for by Severn Trent.
The water supply industry are facing many changes as they attempt to structure, or restructure, themselves around keeping the shareholders happy, conform to the pressures from regulatory companies who prevent the raising of bill prices too much and of course meet the demands of the investors.
Severn Trent serve around 7.7 million people in the Midlands area so the impact that this on customers is significant, but being Garfield will make history as she becomes the fourth female to take over a company registered on the FTSE, those who receive the services of Severn Trent can be comforted by her track record.
Customers are welcome to call the Severn Trent customer service team for more information.
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