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(Sharecast News) - Utilities firm National Grid said on Monday that it will streamline its operating structure to sharpen execution and improve performance, unveiling a new model that reduces its group executive committee from 13 members to eight from 1 September.
National Grid said leadership of its UK and US business units will be consolidated under newly created regional presidents, each responsible for driving operational improvement, disciplined delivery and the wider rollout of technology.
Cordi O'Hara has been appointed president of National Grid's UK division, overseeing both electricity distribution and transmission, while Sally Librera was named interim president of US operations.
Chief executive Zo Yujnovich said: "National Grid is delivering the largest investment programme in its history, committing at least 70bn to modernise and expand the energy networks across the UK and the US Northeast to support electrification. This demands an organisation with absolute clarity of accountability and a relentless focus on performance.
"By empowering dedicated geographic leaders to focus on business performance, supported by clear owners of both Global Capital delivery, and Technology and Innovation, we are better positioned to continuously improve performance, deliver our capital programme with precision, and achieve the big shifts we have defined in our strategy - at pace."
As od 1000 BST, National Grid shares were down 0.71% at 1,181.52p.
Reporting by Iain Gilbert at Sharecast.com
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