Wray has been at the company for nine years, seven of which as CEO. His one year notice will allow him to oversee the company’s submission of its Final Business Plan for Ofwat’s 2014 price review.

Severn Trent chairman Andrew Duff said: “Tony is a highly effective chief executive of Severn Trent. Under his leadership the business has undergone significant transformations and operational improvement. Tony has also been an influential voice within the industry and has played a significant part in setting its future direction.

“With a strong Executive team in place the timing of this decision provides Severn Trent with continuity of leadership and the necessary time to search for and identify his successor.”

Conor McGlone

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