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Thames Water rescue deal: creditors name Lord John Hutton as chair designate
A creditor consortium pursuing a £10bn Thames Water rescue deal has chosen Lord John Hutton, a former senior Labour minister, as independent chair designate of the company's board, contingent on its takeover going ahead.
By Haut Monde Post
• October 20, 2026
• 2 Min Read
Who is Lord John Hutton
Lord John Hutton brings a long ministerial and industry record to the proposed role at Britain's largest water supplier.
- •He served as work and pensions secretary, business secretary and defence secretary under Tony Blair and Gordon Brown, with experience in public policy, energy and infrastructure.
- •He has chaired the Nuclear Industry Association, Energy UK, Make UK, the Association of Infrastructure Investors and London Luton Airport, and was a non-executive director of Scottish Power Energy Networks.
The creditors' takeover plan
The consortium, London & Valley Water, announced on Tuesday that Hutton had been selected as independent chair designate of the Thames Water board, conditional on its takeover being approved by the government. Creditors have been in talks with ministers and regulators for months over the company's future ownership.
Hutton will be supported by Mike McTighe, a telecoms and turnaround specialist already leading Thames's overhaul, who is now vice-chair designate and is expected to work closely with the management team. McTighe had been lined up in August as new chair to replace the incumbent Sir Adrian Montague if the takeover proceeds.
Reacting to the appointment, Hutton said the goal of the incoming leadership is to help the company get
"into a better place"
He added that people in London and the Thames Valley deserve the highest customer service standards and proper environmental stewardship.
The company's financial position
Thames Water has 16 million customers in the south of England and has fought off bankruptcy for years while running out of cash.
- •The company recently asked its creditors for an additional £2.4bn.
Government's stance
Prime Minister Andy Burnham has told officials to rip up their existing plans for how to fix Thames and present more radical options. Before becoming prime minister, he said he would nationalise the company. Talks between the creditors, ministers and regulators over future ownership continue, with the appointments contingent on the government approving the takeover.
