National Grid PLC National Grid appoints President of US Business (5035I)
02 Abril 2020 - 12:02AM
UK Regulatory
TIDMNG.
RNS Number : 5035I
National Grid PLC
02 April 2020
02 April 2020
National Grid plc
National Grid appoints President of US Business
and Managing Director of National Grid Ventures
Badar Khan has been appointed President of the US Business,
following the departure of Dean Seavers at the end of 2019. Badar
has been acting as interim President since November 2019.
Commenting on the appointment, John Pettigrew, Group Chief
Executive said, "Badar has proven to be a strong leader in his
three years at National Grid. He's made a confident start running
the US business and knows National Grid well. Badar has extensive
experience in power, gas, energy-related services and renewable
energy, and he has worked for a number of US companies in retail
power markets. His considerable experience in customer facing roles
will be essential in steering the US business now and in the
future. I'm confident that he and his team will continue to grow
the business and lead our people in their crucial work."
Badar Khan joined National Grid in April 2017 as Group Director
Corporate Development and President, National Grid Ventures, which
included responsibility for Group Strategy and National Grid
Partners. Prior to National Grid, Badar worked at Centrica plc for
14 years in the US and UK, including four years as CEO of Direct
Energy, its North American subsidiary.
Jon Butterworth has been appointed Managing Director of National
Grid Ventures and a member of the Group Executive Committee, after
fulfilling this role on an interim basis since November 2019.
Commenting on Jon Butterworth's appointment, John Pettigrew,
Group Chief Executive, said, "Jon is a proven leader who has been a
driving force behind the sustained success of our business for many
years, serving in a wide range of senior leadership roles. Under
his leadership, National Grid Ventures will continue to play a
critical role in accelerating the development of a clean energy
future for consumers across the UK, US and Europe."
Jon was previously Chief Operating Officer, Global Transmission,
National Grid Ventures. He is also a non-executive director of
South West Water.
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CAUTIONARY STATEMENT
This announcement contains certain statements that are neither
reported financial results nor other historical information. These
statements are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include information with respect to National Grid's (the
Company) financial condition, its results of operations and
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statements in the future tense, identify forward-looking
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National Grid's future performance and are subject to assumptions,
risks and uncertainties that could cause actual future results to
differ materially from those expressed in or implied by such
forward-looking statements. Many of these assumptions, risks and
uncertainties relate to factors that are beyond National Grid's
ability to control, predict or estimate precisely, such as the
impact of COVID-19 on our operations, our employees, our
counterparties, our funding and our regulatory and legal
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adequately forecast and respond to disruptions in energy supply;
performance against regulatory targets and standards and against
National Grid's peers with the aim of delivering stakeholder
expectations regarding costs and efficiency savings; and customers
and counterparties (including financial institutions) failing to
perform their obligations to the Company. Other factors that could
cause actual results to differ materially from those described in
this announcement include fluctuations in exchange rates, interest
rates and commodity price indices; restrictions and conditions
(including filing requirements) in National Grid's borrowing and
debt arrangements, funding costs and access to financing;
regulatory requirements for the Company to maintain financial
resources in certain parts of its business and restrictions on some
subsidiaries' transactions such as paying dividends, lending or
levying charges; the delayed timing of recoveries and payments in
National Grid's regulated businesses and whether aspects of its
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performance of National Grid's pension schemes and other
post-retirement benefit schemes; the failure to attract, develop
and retain employees with the necessary competencies, including
leadership skills, and any significant disputes arising with
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its employees; the failure to respond to market developments,
including competition for onshore transmission; the threats and
opportunities presented by emerging technology; the failure by the
Company to respond to, or meet its own commitments as a leader in
relation to, climate change development activities relating to
energy transition, including the integration of distributed energy
resources; and the need to grow the Company's business to deliver
its strategy, as well as incorrect or unforeseen assumptions or
conclusions (including unanticipated costs and liabilities)
relating to business development activity. For further details
regarding these and other assumptions, risks and uncertainties that
may impact National Grid, please read the Strategic Report section
and the 'Risk factors' on pages 212 to 215 of National Grid's most
recent Annual Report and Accounts as updated by National Grid's
unaudited half-year financial information for the six months ended
30 September 2019 published on 14 November 2019 . In addition, new
factors emerge from time to time and National Grid cannot assess
the potential impact of any such factor on its activities or the
extent to which any factor, or combination of factors, may cause
actual future results to differ materially from those contained in
any forward-looking statement. Except as may be required by law or
regulation, the Company undertakes no obligation to update any of
its forward-looking statements, which speak only as of the date of
this announcement.
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END
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