National Grid appoints Steve Smith as Chief Strategy and Regulation Officer

Rhea-AI Summary

National Grid (NYSE: NGG) has appointed Steve Smith as Chief Strategy and Regulation Officer, effective immediately. Smith, who has been serving in this role interim since August 2024, will lead the company's strategy and regulation work across the US and UK. He will report to CEO John Pettigrew and join the executive committee. The appointment comes as National Grid plans to deploy £60bn of capital over the next five years to drive economic growth, jobs, and decarbonization. Smith, who joined National Grid in 2021, brings over 25 years of experience in energy and finance sectors, previously holding positions at Lloyds Banking Group, Ofgem, American Electric Power, and PwC.

Positive

• Planned £60bn capital investment over next five years
• Appointment of experienced executive with 25+ years in energy and finance sectors
• Strategic leadership continuity with internal promotion from interim role

Negative

• None.

BROOKLYN, N.Y. and WALTHAM, Mass., Nov. 20, 2024 /PRNewswire/ -- National Grid today announced that Steve Smith has been appointed as the company's Chief Strategy and Regulation Officer. As National Grid works to progress the energy transition at speed, Steve will lead the company's work on future strategy and regulation across the US and UK. Steve will sit on National Grid's executive committee and report to John Pettigrew, Group CEO.

Steve has been leading this work on an interim basis since August 2024, following Ben Wilson's move to lead National Grid Ventures. His appointment is effective immediately.

"It's a privilege to be appointed to this role at the most exciting time for the energy sector in decades," said Steve Smith "The strategy and regulation teams already deliver outstanding work to ensure National Grid is set up for success and that we continue to put our customers first. I am very much looking forward to continuing to build on this, as I take up the role on a permanent basis."

John Pettigrew, CEO, said: "As we work to deliver on our ambitious investment plans, which will see us deploy £60bn of capital over the next five years, the strategy and regulation teams will play a key role in making sure this investment drives economic growth, jobs and decarbonisation. Steve's outstanding leadership and depth of experience will further strengthen our executive team as we lead the sector in driving the energy transition forwards. We are pleased that Steve has accepted this role and look forward to working with him."

Steve Smith joined National Grid in October 2021 and previously held the roles of Group Head of Strategy and President of National Grid Partners. Before joining National Grid, he spent 11 years at Lloyds Banking Group and was a member of the Retail Executive Committee.

Prior to this, he was a Board member and Managing Director at Ofgem. His early career included roles at American Electric Power and PricewaterhouseCoopers (PwC). 

With more than 25 years of experience in the energy and finance sectors, Steve's career spans venture capital, fintech, innovation and competition, government and policy, markets, regulatory reform and regulatory strategy.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.

For more information, please visit our website, follow us on X (formerly Twitter), watch us on YouTube, like us on Facebook and find us on Instagram.

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SOURCE National Grid

FAQ

Who is the new Chief Strategy and Regulation Officer at National Grid (NGG)?

Steve Smith has been appointed as National Grid's Chief Strategy and Regulation Officer, effective immediately after serving in an interim capacity since August 2024.

How much capital does National Grid (NGG) plan to invest over the next five years?

National Grid plans to deploy £60bn of capital over the next five years to drive economic growth, jobs, and decarbonization.

What was Steve Smith's role at National Grid (NGG) before this appointment?

Before this appointment, Steve Smith served as Group Head of Strategy and President of National Grid Partners after joining the company in October 2021.

When did Steve Smith join National Grid (NGG)?

Steve Smith joined National Grid in October 2021.