The chairman of Thames Water’s parent company has resigned less than a year later.
City veteran Adrian Montague has resigned from the leadership of Kemble Water amid growing questions over dividend payments.
He was appointed chairman of Thames and Kemble Water in June to sort out the utility’s finances, two days after Sarah Bentley’s abrupt resignation as chief executive.
At the time, Thames, which supplies water to millions of customers across London and the south-east of England, almost collapsed under its £15bn debt and officials considered placing it into special administration.
Montague’s resignation comes as industry regulator Ofwat investigates a £37.5m payment Thames Water made to Kemble in October.
Resignation: City veteran Adrian Montague has resigned from the leadership of Kemble Water amid growing questions over dividend payments.
The watchdog is investigating whether the dividend payment breached rules.
Payments to shareholders are supposed to be linked to performance targets.
Montague remains chairman and director of Thames Water Utility Limited.