For immediate release 3pm Tuesday 19 May 2020

Today MOSL announced the appointment of its permanent Finance Director, Steve Formoy, who will join MOSL at the beginning of June.

Steve has over 20 years’ finance experience including 15 years at PwC and five years at Thames Water, covering financial and regulatory reporting, risk and controls, system implementation and business partnering.

He operated at a Director level at PwC within Audit and Assurance, before moving to Thames Water in 2014, where he delivered in a number of Divisional Finance Director Roles as well as Group Financial Controller. His responsibilities included heading up their Wholesale Market Services unit, delivering interface services between Thames Water and the non-household retail market, through the first year of operation.

His most recent role was Finance Director for Operations, covering all of Thames’ frontline operational activity and capital maintenance programmes, with spend of £1 billion per annum.

Sarah McMath, MOSL’s CEO, said “I am confident that Steve’s experience driving high quality strategic planning and in developing and motivating high performing teams will be a huge asset to MOSL, particularly as we begin the detailed work on our strategy and three-year business planning. Steve’s innate ability to build effective and trusted relationships will also support us as we continue to drive collaboration and innovation in the water retail market.”

In welcoming Steve, Sarah said “I would also like to take this opportunity to thank Andrew Stoneman for his continued hard work and dedication over the past year. Andrew joined MOSL’s Senior Leadership Team as Interim Finance Director last summer and has worked tirelessly to improve our company secretarial capability; strengthen our financial controls and provide comprehensive monthly management reports. He has become a trusted member of our team, and I know his expertise has been heavily valued as we supported the delivery of a number of key urgent changes during COVID-19.”

Steve’s appointment comes as MOSL continues to solidify and strengthen its senior leadership team and build capability within MOSL. MOSL’s Chair, Jim Keohane, said “Over the past year, and following the publication of our 2020/21 Business Plan, we have been looking to grow the expertise and capability within our organisation to better support the market in which we operate. Steve’s appointment follows a number of successful appointments across all levels of the organisation. I know his experience and expertise will be of great value to us, and to our members, as we move into the fourth year of the market and look to drive sustainable improvements.”

Steve Formoy will officially take up the role on 1 June 2020.

Ends.

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