NWG Business managing director Lucy Darch is to take the helm of Wave, the new non household retail joint venture between Northumbrian Water and Anglian Water. The 50:50 JV gained unconditional clearance from the Competition and Markets Authority last week.
Darch will become Wave’s chief executive officer, with Anglian Water Business’ director of sales and marketing Lee Shipsey stepping up as deputy chief executive officer. AWB’s managing director and champion of Anglian Water’s competitive market activities since 1998, Bob Wilson, has decided to retire after supporting the transition.
The parties expect to complete the merger by the end of August. Wave will report a turnover in excess of £500 million and have an estimated 19% market share across UK, serving approximately 300,000 business customers.