SSE names Martin Pibworth new CEO; Jefferies sees positive outlook

Published 28/03/2025, 09:38
© Reuters

Investing.com -- SSE (LON:SSE) plc on Friday said they have appointed Martin Pibworth as its chief executive designate, marking a transition for the UK utility company.

 This decision follows a  recruitment process and comes after the current chief executive, Alistair Phillips-Davies CBE, revealed his plans to retire in November 2024. 

Pibworth is set to officially assume the role on July 17, taking over from Phillips-Davies after SSE’s annual general meeting.  

Pibworth’s journey with SSE began in 1998, and over the past three decades, he has steadily progressed through several important commercial positions within the company. 

He joined the Executive Committee in 2012 and the Board in 2017. In his current role as chief commercial officer, Pibworth has been responsible for overseeing SSE’s Renewables, Thermal, Energy Markets, and Energy Customer Solutions businesses. 

Jefferies flags Pibworth’s deep expertise in energy markets and the execution of large capital projects, noting that he has also been actively involved in the design and delivery of SSE’s corporate strategy.  

“We see new CEO appointment as a positive,” said analysts at Jefferies. The brokerage suggests that with Pibworth taking the helm, SSE is not expected to undergo any major strategic review, given his integral involvement in the company’s existing strategy. 

Jefferies also indicates that Pibworth is well-known to investors, further solidifying confidence in his appointment.  

In the transition period, Alistair Phillips-Davies will continue to serve as chief executive until the AGM on July 17, after which he will step down from the Board. 

However, Phillips-Davies will remain with SSE as non-Executive Chair of SSEN Distribution before his departure in November 2025.  

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.