Pennon (PNN) has promoted South West Water chief executive Christopher Loughlin to the newly created role of group chief executive officer. Previously the group's management structure consisted of three executive directors - the group's finance director, South West Water chief Mr Loughlin and Viridor chief executive Ian McAulay.
Following chairman Sir John Parker's appointment in August he began a review of the group's corporate structure. He and the group's non-executive directors concluded "the future management and oversight of the group would now be better served through the creation of the new role of group chief executive officer". Analysts were largely positive on the appointment of Mr Loughlin, who has worked as chief executive of South West Water for the past nine years.
