Thames Water investor quits board as ‘nationalisation’ plan looms

Shareholders’ representatives are quitting the Board of Thames Water, the troubled water company A key board member of Thames Water, the crisis hit water provider and sewerage firm, has stepped down as it struggles to stay afloat.stepping down immediately, Thames Water said

Omers, or Ontario Municipal Employees Retirement System, is the largest Thames Water shareholder holds a near 32 per cent stake in Kemble Water, owners of Thames, the UK’s biggest water firm. “Thames Water continues to meet water regulator Ofwat’s expectation that independent non-executive directors form the largest single group on the Board,” the water provider said in a statement.

Britain’s privatised water industry has come under scrutiny as sewage spills have risen despite owners continuing to be paid substantial dividends, loading the companies with debt.

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Fears that customers' Thames Water bills could surge by 44 percent as troubled water company admits...The group, which is battling to survive amid a funding crisis, has admitted it needs £1.1 billion more than previously thought to fix sewage spills and leaks in a new business plan.
Source: DailyMailUK - 🏆 7. / 90 Read more »

Fears that customers' Thames Water bills could surge by 44 percent as troubled water company admits...The group, which is battling to survive amid a funding crisis, has admitted it needs £1.1 billion more than previously thought to fix sewage spills and leaks in a new business plan.
Source: DailyMailUK - 🏆 7. / 90 Read more »