The consortium attempting to take control of Thames Water has named three proposed directors with water, infrastructure and Whitehall experience as it tries to win government approval for a deal to bail out the troubled utility.
London and Valley Water (L&VW), which represents creditors holding £17bn of Thames Water's debt, said Liz Barber, a former chief executive of Yorkshire Water; Clive Selley, the former CEO of Openreach which builds and maintains the UK's broadband network; and career civil servant Dame Bernadette Kelly, former permanent secretary at the Department of Transport, would join its board.
They will join the previously announced Mike McTighe, chairman of Openreach, who has been spearheading a multibillion pound rescue plan of the utility.
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L&VW has proposed a restructuring deal that would see around half of Thames Water's debt written off and more than £3bn of new equity injected into the UK's largest water company.
In June, former environment secretary Emma Reynolds effectively rejected L&VW's proposals, and the new government under Andy Burnham has made it clear it believes water companies should have a degree of "public control".
L&VW has proposed granting a "golden share" to the government, and greater "enhanced local representation and involvement for local authorities", but direct negotiations have been on hold over the summer.
Mr Burnham's plans for the water industry, and appetite for full nationalisation, remain opaque - but Thames Water could still be tipped into a special administration regime that could see the creditors competing with other potential buyers.
L&VW maintains its restructuring proposal is viable and the fastest way of addressing Thames Water's multiple customer, regulatory and environmental failings.
Mr McTighe said: "The challenge at Thames Water is huge. If this recapitalisation plan is accepted, we will apply full dedication as a new board, working alongside the executive team to transform the business and build a culture in which the customers and local communities who depend on Thames Water come first."
(c) Sky News 2026: Thames Water creditors build board for bailout bid
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