National Grid appoints Andy Agg as new CFO

National Grid has appointed Andy Agg as chief financial officer with effect from 1 January 2019.

Agg, who has been interim CFO since July, was previously the UK CFO before becoming group tax and treasury director in 2016.

Chairman Peter Gershon said: "Following a formal, rigorous and competitive process to identify a permanent CFO, the board is delighted to appoint Andy Agg to the role. Andy stepped into the role on an interim basis following Andrew Bonfield stepping down in July. I warmly welcome him to the board of National Grid."

Chief executive officer John Pettigrew said: "Andy has done a great job since stepping into the role on an interim basis in July and I am personally delighted that he has now been formally appointed to the role.

"With his broad experience in operational and corporate finance roles and deep knowledge of National Grid, Andy is well placed to help steer the company through the next phase of its evolution."

At 1525 GMT, the shares were up 1.7% to 841.20p.