National Grid US boss Dean Seavers steps down

National Grid said on Tuesday that Dean Seavers will step down as president of the company's US business with immediate effect for personal reasons.

The power utility said Seavers had agreed to stay on until the end of the year to ensure a smooth leadership transition and handover.

Badar Khan, currently group director Corporate Development and National Grid Ventures and a member of the Group Executive Committee, will take over immediately as interim president of the US business, pending the appointment of a permanent successor to Seavers.

Chief executive officer John Pettigrew said: "It has been a pleasure to work with Dean over the last few years and he has been a key part of my management team. I wish him well for the future. Badar's knowledge of National Grid and his experience in the US will ensure a smooth transition whilst we undertake a search for Dean's permanent successor."

At 0805 GMT, the shares were down 0.6% at 891.66p.