# Severn Trent boss to step down after 11 years in top role

By Russ Mould — 2025-11-19

Russ Mould, investment director at AJ Bell, said: “One of the longest-serving CEOs in the FTSE 100 is set to depart as Liv Garfield announces plans to step down after more than 11 years at the end of 2025. Through her time in the top job, she has delivered a respectable total return in excess of 100%.

“This is despite her tenure encompassing the disruption of Brexit and, in the water industry specifically, significant operational and financial issues.

“Garfield’s time in charge is certainly a story with two distinct halves, with the shares struggling to make a lot of progress in the last five years – although they have stayed afloat more successfully than a lot of rivals.

“She is departing on a high with first-half profit gushing higher as the company has managed to keep a tight rein on financing costs. The full-year outlook on several key metrics has also been upgraded.

“In this context, it’s not a surprise to see some market disappointment at the news of Garfield’s departure with internal appointment James Jesic facing the task of delivering on a huge investment programme.”

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