National Grid chairman Gershon to step down

National Grid said on Thursday that chairman Peter Gershon plans to step down from the board after nearly nine years at the company, with the search for his successor already underway.

Gershon will be standing for re-election at the annual meeting in July and is set to remain chairman until his successor has been "successfully onboarded" to facilitate a smooth handover.

National Grid had said in its 2018/19 annual reports and accounts that, due to the need to maintain continuity of knowledge and experience during the conclusion of the RIIO-T2 process, the nominations committee had decided it would be in the company's best interests for Gershon to stay on as chairman for up to a year past his nine-year tenure.