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Tuesday, 27 December 2011 09:50

New Chief Executive Officer for Veolia Water UK

Frédéric Devos, Chief Executive Officer (CEO) of Veolia Water UK since 2007, has handed over his CEO responsibilities to Olivier Bret, present Deputy CEO of Veolia Water UK.

In a statement, the company said Olivier Bret would lead the business forward, while still working closely with Frédéric  Devos over the coming months to ensure a smooth transition and business continuity.

Since Frédéric Devos joined Veolia Water UK as CEO,  the business has doubled in size. He commented:

"I came to London to establish a credible UK-wide business for Veolia Water and have exceeded my goal in all respects.I am driven by the challenge of building new companies and platforms and feel the time has now come for me to move on to a new challenge."

Earlier this month parent company French utility giant Veolia announced it was putting the three UK-regulated water companies, up for sale as part of its effort to reduce net debt from €15bn to less than €12bn by the end of 2013.

Veolia said the proposed sale of Veolia Water's regulated water companies meant a stronger focus on the non-regulated side and in recognition of this the time was right for Olivier Bret to take up the position.

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