National Grid chief executive Steve Holliday has confirmed he will step down next year. The board has picked John Pettigrew to replace him.
Holliday has been chief executive since 2007, joining the company in 2001 from British Borneo Oil following a 19 year stint with Exxon. His tenure is largely viewed as successful given the politicised environment in which National Grid must operate.
Pettigrew has been a company man since joining as a graduate trainee in 1991. He has held senior roles across the business, joining the board in 2014 as UK executive director.
National Grid chairman Peter Gershon said Holliday’s contribution had been “significant” both to the energy industry and the company. Pettigrew, he said, had the full backing of the board.
“Under Steve’s leadership the company has delivered excellent returns for shareholders ensuring its place as one of the world’s leading utilities,” said Gershon.
“I am delighted that after a very thorough and rigorous selection process, he will be succeeded by John Pettigrew who has run the major operational divisions of National Grid.”
Holliday, who will stay in post until 31 March, said leading the system operator had been a privilege, and that Pettigrew’s were “very capable hands”. He thanked all employees for helping National Grid deliver its remit.
Pettigrew said he relished the challenge of running both the UK and US businesses.