Thames Water has appointed Julian Gething in a newly created role as Chief Restructuring Officer to provide specialist advice as it continues its complex and ongoing balance sheet recapitalisation process.
Julian will support the board and executive as it seeks to deliver the financial platform required to set the company on a more stable financial path for the future. He will be engaged on an interim basis pending the recapitalisation of the Group’s balance sheet.
Julian will be appointed as an executive director and will sit on the TWUL Board, TWUF Board and TWUHL Board and TWUL executive, following ratification.
Thames Water said Julian’s role will not involve the operational aspects of the business and the creation of this role will not result in any corporate redundancy programme. His remit is to work closely alongside the Chief Financial Officer, General Counsel, Corporate Finance Director and Non-Executive Directors to further develop and implement the actions required to recapitalise the balance sheet and complete the equity raise process. Julian’s appointment is supported by the company’s lenders.
Julian is a Partner & Managing Director at AlixPartners with 35 years’ experience in delivering complex debtor side financial restructuring.
Throughout his career he has taken a range of board appointments including Chairman, Director and Chief Restructuring Officer, spanning a broad range of industries in the UK and internationally.
