National Grid promotes lifer John Pettigrew to chief executiveComments Off on National Grid promotes lifer John Pettigrew to chief executive
National Grid has a new chief executive: a rugby-loving Welshman who joined the company 25 years ago as a graduate trainee.
John Pettigrew, who joined after graduating from Cardiff University, will step into the shoes of current boss Steve Holliday next April.
Holliday is retiring after more than a decade at the helm of the electricity group.
The new man will get £825,000 a year in pay, plus bonuses — slightly less than Holliday’s £1 million-plus salary.
Holliday, a former oil industry chief who took over in 2006, will stay on the board until July and is expected to take up a series of non-executive appointments upon his retirement.
He was formerly on the board of Marks & Spencer.
Pettigrew joins Sir Andrew Witty as one of the few FTSE 100 chief executives to rise through the ranks from graduate training programmes and lead their respective companies.
National Grid chairman Sir Peter Gershon said he was chosen because of his experience of the firm’s UK and US operations.
Pettigrew did a stint as chief operating officer for US distribution and generation between 2007 and 2010.