CASH KEEPS FLOWING

You won’t easily find this on the Pennon Group Plc Group website, but buried in a corporate governance document is a clear explanation about what happens after a CEO leaves.

It’s called a Section 430(2B) statement (a legal disclosure outlining what a departing director will be paid).

And it confirms that former South West Water Grand Fromage, Susan Davy (pictured)  who retired on December 31 2025, remains eligible for some further windfalls this year.

They include a pro-rated bonus, likely to range from £280,000 to £600,000, alongside long-term share awards that could still run into seven figures over time... even after stepping down.

All within the rules, your Honour. All standard practice. Nothing to see here. Move along.

But...

In an industry responsible for something as fundamental as our rivers and seas, the question isn’t just what’s allowed.

For communities seeing pollution incidents, for customers facing rising bills, this doesn’t feel like anything close to accountability.

Instead it reeks of a system where rewards continue, regardless of whether outcomes on the ground match governance at the top.