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52IP Aviva 23

99.186
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Aviva 23 LSE:52IP London Medium Term Loan
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 99.186 0 01:00:00

Directorate Change

04/12/2009 1:25pm

UK Regulatory


 

TIDM52IP 
 
RNS Number : 6173D 
Welsh Water Utilities Finance PLC 
04 December 2009 
 
? 
Glas Cymru Cyfyngedig Chairman Lord Burns announces he will stand down in 2010 
At today's meeting of the Members of Glas Cymru Cyfyngedig (Glas Cymru) Lord 
Burns announced that with the Board's agreement he will be standing down as 
Chairman of Glas Cymru and of Dwr Cymru Welsh Water during the first half of 
2010 and that the Company had commenced the process by which a new Chairman will 
be appointed. 
This is the next stage of a succession plan that got underway in 2007 under 
which all of the Non-Executive Directors who were members of the Board in 2001 
when Glas Cymru acquired Dwr Cymru Welsh Water, including Lord Burns, would 
stand down from the Board by July 2011. 
Lord Burns today told the Members of Glas Cymru: "It has been a privilege to 
have been Chairman of the Company since it was formed. It is now time for a new 
Chairman to have a say in the composition of the Board after 2011.  I am letting 
you know today that I will be standing down as Chairman once a suitable 
successor has been identified and appointed in the first half of 2010.' 
To lead the process of finding a new Chairman, the Board has formed an 
Appointments Committee, chaired by John Bryant who has been appointed to the 
role of Senior Independent Director on the Board. 
End 
 
Additional Information 
1.Glas Cymru was formed in 2000 for the sole purpose of acquiring Welsh Water. 
As a 
 

'company limited by guarantee', Glas Cymru's unique business

model ensures that all 
 

financial surpluses generated by the group are

retained and reinvested for the benefit 
 

of Welsh Water and its

customers.  Glas Cymru's constitution strictly limits its purpose 
 

to

that of financing infrastructure assets in Welsh Water's area of appointment and 
 
 

managing Welsh Water's business so that high quality water and

sewerage services are 
 

delivered at least cost to the communities

served by Welsh Water. Glas Cymru cannot 
 

diversify into other

unrelated commercial activities. 
2.The Board of Glas Cymru comprises 10 Directors:  a Non-Executive Chairman, 
seven 
 

Non-Executive Directors (four of whom will stand down not later

than July 2011) and 
 

three Executive Directors.

3.Following the resignation as a Non-Executive Director of Alison Carnwath in 
2007, the 
 

process of Board succession commenced and has led to the

appointment of three Non- 
 

Executive Directors: James Strachan, Bob

Ayling and, most recently in October, Professor 
 

Stephen Palmer.

4.Further details of the Board can be obtained from the company's website: 
http://www.dwrcymru.com/English/Company/Glascymru/Directors/index.asp 
Further information from the Glas Cymru press office on 029 2055 6140 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOAUUGUPPUPBGWC 
 

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