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News > News > Chris Weston (77-82) appointed Head 0f Thames Water

Chris Weston (77-82) appointed Head 0f Thames Water

One of the most prominent OP business leaders, Chris Weston (77-82), has been appointed Chief Executive Officer of the troubled privatised monopoly Thames Water Utilities Ltd.
6 Jan 2024
Written by Robin Knight
News
Chris Weston
Chris Weston

Chris Weston, 59, will take over his new role in early January 2024. He was previously head of the mobile power generator group Aggreko for six years until 2021 when it was taken over in a £2.2 billion acquisition by a private equity firm. Before that he worked for 13 years at Centrica, latterly as the director in charge of British Gas, and held a number of senior roles in the Australian and UK telecoms sector.

According to the Thames Water chairman, Sir Aidrian Montague, Weston has been appointed for his all-round business competence and achievements. “He has a proven track record working in regulated environments, turning round business performance and improving customer experience. (And) he brings strong operation and strategic expertise.”

All these attributes will clearly be required at Thames Water. In recent years the utility has been beset by major environmental issues including being fined for “reckless failure” after one of the worst water pollution incidents in UK history, chronic instability among its top management and financial challenges caused by a huge debt mountain of more than £10 billion run up by a former owner of the company. In 2023 its share price slumped by two-thirds. The business, worth £5 billion in 2022, is now valued at around £1.9 billion.

Weston, once served in the Royal Artillery and from 2017-23 he was a non-executive director of the Royal Navy. Of his latest role, he says: “It will be quite a challenge. But I have no doubt it will be fascinating, and it is important both to society and to the UK.  I am very much looking forward to joining the team at Thames and working to restore confidence in both its finances and operations.  Lots to keep me busy.”

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