Thames Water Utilities Limited (TWUL) has revealed that Alastair Cochran, the company’s Chief Financial Officer (CFO), will be stepping down from his position on 31 March 2025. He will also exit both the TWUL Board and the executive team. The company has appointed Stuart Thom, Director of Group Finance, to serve as interim CFO until a permanent successor is named.
Sir Adrian Montague, Chairman of Thames Water, expressed the company’s gratitude for Cochran’s leadership. He stated, “On behalf of the Board, I would like to offer our sincere thanks to Al for his service. He has overseen significant changes to the Company during his time on the Board and Executive. At the request of the Board, alongside his role as CFO, he served as joint CEO maintaining stability for the business before the appointment of the current Chief Executive.”
“He has led the work to put TWUL’s finances on a more stable footing, overseeing the first stages of our equity raise and financial restructuring, laying the foundations for the wholesale recapitalisation of the business. We wish him the very best for the future.”
Chris Weston, Chief Executive of TWUL, also acknowledged Cochran’s contribution, noting, “Since joining Thames Water in September 2021, Al has overseen significant progress within the Company. He has led the development of our most ambitious business plan ever, alongside work to put the business on a sound financial footing for the future, enabling us to better deliver for customers and the environment.”
“Al was instrumental in securing £3bn of new liquidity to support the business through its longer term equity raise process. His technical capability, relationships with stakeholders and interest groups, and personal tenacity and resilience has been pivotal to the Company delivering one of the largest restructuring activities in UK corporate history. I would like to thank him for the dedication he has shown during his tenure and wish him and his family the very best for the future.”
The company has yet to announce who will take over Cochran’s role permanently. His departure marks the end of an important chapter in Thames Water’s ongoing transformation.
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