Pennon Group (PNN): CEO succession
This situation live
PNN Pennon Group
9 Dec 2025 · Interim Executive Chair from 1 January 2026 · +4% until the next step
To support an orderly succession, the Board has approved interim arrangements covering the period between Susan stepping down from the Board and Keith Haslett joining the Board, following his notice p
10 Mar 2026 · Successor start date confirmed · −8% until the next step
Keith Haslett will join the business as Chief Executive Officer effective from 1 April 2026.
10 Jun 2026 · Keith Haslett CEO since 1 April 2026 · −34% until the next step
Keith Haslett joined Pennon as Chief Executive on 1 April 2026.
7 Oct 2026 · Plan announced, actions under way · +3% since
Pennon today sets out a strategic update and a detailed plan to improve operational performance across the Group and generate improved outcomes for its customers and the environment.
CEO succession
Plan announced, actions under way
Every step · 4
- 9 Dec 2025 Interim Executive Chair from 1 January 2026 – To support an orderly succession, the Board has approved interim arrangements covering the period between Susan stepping down from the Board and Keith... ↗
- 10 Mar 2026 Successor start date confirmed – Keith Haslett will join the business as Chief Executive Officer effective from 1 April 2026. ↗
- 10 Jun 2026 Keith Haslett CEO since 1 April 2026 – Keith Haslett joined Pennon as Chief Executive on 1 April 2026. ↗
- 7 Oct 2026 Plan announced, actions under way – Pennon today sets out a strategic update and a detailed plan to improve operational performance across the Group and generate improved outcomes for its... ↗
What is happening
Pennon Group: CEO succession – Plan announced, actions under way. ['Plan announced, actions under way']
- In short
- After a review since joining as CEO in April 2026, Keith Haslett sets out an operational reset on five pillars. Actions already under way include a new Chief Asset Officer and Chief People Officer, centralised asset management and insourced leakage technicians. It is paired with higher investment and a rebased dividend.
- Announced
- 9 Dec 2025 · Interim Executive Chair from 1 January 2026
- Latest
- 7 Oct 2026 · Plan announced, actions under way
- Pillars
- people and culture, operational excellence, asset management and reliability, environmental programme, customer transformation
- Actions under way
- new Chief Asset Officer and Chief People Officer, centralised asset management, insourcing of leakage technicians
- Who
- Keith Haslett, CEO since 1 April 2026
From the company's own announcements. Not investment advice.
Briefing
Pennon Group in 4 minutes
Pennon owns water and sewerage companies in the South West of England and water-only companies around Bristol and in Surrey. It returned to profit in 2025/26 as a record investment programme began to lift its allowed...
- Act 1Buying Sutton and East Surrey, funded by shareholders
- Act 2The loss year and a bigger raise
- Act 3Profit returns, but the weather and the targets bite
Also at Pennon Group 6 open
Transformational contract / build-outK8 capital investment programme – Programme enlarged to c.£3.6bn; draft determination out
Dilutive fundraiseRights issue – Terms set; subscription period opens 12 October
Disposal of a part (break-up)Sale of Pennon Power – Proposed; listed in funding plan
Project milestonesPennon Power build-out – Fife and Aberdeenshire energised, generating revenue
Turnaround plan with targetsWastewater pollution reduction plan – Pollutions down c.34%; EPA 1* provisional
Pennon Group – company page →