Severn Trent will make boardroom history by becoming the first FTSE 100 company to have women occupying the three key roles of chief executive, chair and chief financial officer.
The watershed moment comes as finance boss James Bowling retires in July to be replaced by Helen Miles, who is the capital and commercial services director.
She is to be appointed as chief financial officer designate in April, before taking full responsibility for the role from July 6 following a handover process.
Miles joins boss Liv Garfield, who has led Severn Trent since 2014, and Christine Hodgson, who has chaired it since April 2020.
Female first: Severn Trent boss Liv Garfield, who has led the company since 2014, is now working with a female finance boss and a female chairman
‘I am truly sorry to see James retire. I want to thank him for everything he’s done for Severn Trent and all the support he has given to me personally,’ Garfield said.
She added: ‘I am absolutely delighted that Helen will be his successor. Helen is a highly experienced and commercial CFO with a detailed understanding of the water sector and a proven track record of exceptional delivery.’
Severn Trent shares dipped 1 per cent, or 28p, to 2788p. Miles has previously served as chief financial officer of Openreach, the broadband arm of BT, and home repairs group Homeserve.
Her appointment will bolster female representation in the boardrooms of Britain’s top firms, which were accused last year of an ‘appalling’ lack of progress in promoting women to executive roles.
In the FTSE 100, only eight companies have a female chief executive, while of the roughly 400 women on the boards of blue-chip firms, around 90 per cent are non-executive directors.
The most notable among the female bosses include Alison Rose of NatWest, Dame Emma Walmsley of drugs giant GSK and Admiral chief executive Milena Mondini de Focatiis.
Also on the list are Aviva’s Amanda Blanc, Taylor Wimpey’s Jennie Daly and Jette Nygaard-Andersen, boss of Ladbrokes owner Entain.
Meanwhile, Vodafone boss Margherita Della Valle is currently holding the position on an interim basis.
Reshuffle: Helen Miles, left, who joined the group in 2014, is to become Severn Trent’s new finance boss, while Christine Hodgson, right, has chaired the business since April 2020
At Severn Trent, Miles will have to grapple with how the company adjusts to the cost of living squeeze as it balances increases in bills with support for struggling customers.
In November, the company extended its discounts to more customers on low incomes as it reported a 2.4 per cent rise in profits to £262million in the six months to the end of September.
The industry is also coming under increased scrutiny from regulators amid growing anger about sewage discharges.
Last year, Severn Trent was one of the few companies in the sector not to be punished by the regulator Ofwat for polluting rivers, with 11 suppliers being slapped with fines.