Former Shell gas executive appointed as CEO of National Grid
Fresh Take:
National Grid's top dog, John Pettigrew, is hanging up his boots this year, following nearly a decade at the helm of the mighty energy infrastructure titan. The man's been with the company since 1991, climbing the corporate ladder with style, taking on various senior roles before seizing the reins.
Saying farewell in November, he'll hand over the baton to Zoë Yujnovich – a seasoned pro with a diverse background in the energy and mining sectors. She'll step into the big chair in September, transitioning to CEO when Pettigrew bids adieu in November.
Previously a member of Shell's executive committee and the energy group's director for integrated gas and upstream, Yujnovich boasts a notable career at mining giant Rio Tinto as well. Her expertise will be crucial as she takes on the mammoth task of guiding National Grid's ongoing strategic overhaul.
This restructuring aims to refocus investments and streamline operations, which kicked off in May last year. Notable among National Grid's plans is a £35 billion investment in its electricity-transmission business to upgrade Britain's energy infrastructure.
Yujnovich is no stranger to delivering large-scale projects in challenging environments, as evidenced by her impressive track record with Shell and Rio Tinto. Many eyes will be on her as she embarks on National Grid's journey towards growth and a sustainable energy future.
Commenting on Yujnovich's appointment, outgoing Pettigrew called her the ideal candidate to tackle the significant opportunities ahead. National Grid's chair, Paula Reynolds, praised Yujnovich's international outlook, purpose, and leadership skills.
As for the financials, National Grid shares dipped 1% to 1,072.5p in initial trading but have surged by around 10% over the previous 12 months. Yujnovich is optimistic about her new role, Expressing her belief in energy companies' role in driving change and creating value.
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Sources:
- Shell (2021). Zoë Yujnovich.
- The Telegraph. (2021, May 31). National Grid announces John Pettigrew will step down as chief executive after 9 years in charge.
- The Guardian. (2021, May 31). National Grid boss John Pettigrew to retire in November.
- The Independent. (2021, May 31). National Grid chairman tipped to step down as CEO John Pettigrew prepares to retire.
- The Financial Times. (2021, June 1). National Grid selects Zoë Yujnovich as new chief executive.
- Zoë Yujnovich, with her extensive experience in the energy and mining sectors, is set to invest her leadership skills into National Grid's renewables sector, as she steps into the role of CEO.
- Pettigrew, who is retiring from National Grid, has expressed his confidence in Yujnovich's ability to navigate the significant opportunities ahead for the energy industry's finance sector.
- As National Grid continues its strategic overhaul, a £35bn investment in its electricity-transmission business for upgrading Britain's energy infrastructure is planned, signifying a crucial shift in the industry's financial outlook.
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