Yorkshire Water boss to step down after company's environmental rating downgraded

Yorkshire Water’s chief executive is stepping down from the role after four and a half years leading the business, the company has announced.

Nicola Shaw will handover the post to Nicola Medalova, who is joining Yorkshire Water on November 2 as CEO Designate.

She will succeed Ms Shaw as Chief Executive on January 1 next year. During an executive career at National Grid, Ms Medalova held several senior leadership positions, most recently serving as chief of staff to the group CEO.

The news comes after Yorkshire Water had its performance downgraded to a one-star rating, the lowest a water provider can be given, by the Environment Agency.

The regulator formally downgraded the business from two stars out of four to one for its impact on the environment.

Jon Lewis, chairman of Yorkshire Water, said: “I would like to thank Nicola Shaw for the important contribution she has made to Yorkshire Water. Under her leadership, the company secured £500m of new shareholder equity, with a further £600m committed, enabling us to embark on the largest investment programme in our history and accelerate work to strengthen the resilience of Yorkshire’s water network.

“She leaves the business with strong foundations for the next phase of investment and improvement.”

Ms Shaw said: “It has been a privilege to lead Yorkshire Water and serve the people of Yorkshire. Although there remains a huge amount of work to do, I am extremely proud of what our colleagues have achieved, putting the business on a stronger footing for delivery across all aspects of its work.

“These jobs are challenging but fulfilling and I am especially grateful for the dedication and commitment of colleagues at all levels throughout the business across this county — thank you all. This now feels like the right time to begin an orderly transition to the company’s next chapter.

“I know Nicola Medalova will do an outstanding job leading the company and I look forward to working closely with her over the coming months to ensure a seamless handover.”

Earlier this week, it was revealed that the water sector’s environmental performance fell to a record low last year despite reforms and investment, according to the first joint report by regulators.

​The Environment Secretary has summoned water bosses to Whitehall to explain their failures and outline immediate action following the report’s publication on Thursday.

Southern Water, Thames Water, South West Water and Yorkshire Water – the companies with one-star (poor) ratings – will automatically be blocked from giving out bonuses to bosses under new rules introduced last year.