Yorkshire Water announces CEO succession

Yorkshire Water today announces that Nicola Shaw has decided to step down as Chief Executive following four and a half years leading the business. Nicola Medalova, is joining Yorkshire Water on 2 November, as CEO Designate, enabling a smooth leadership transition. She will succeed Nicola Shaw as Chief Executive on 1 January 2027. Nicola Shaw will continue to lead the business during a structured handover period, working closely with Nicola Medalova to ensure continuity and improvement for customers, stakeholders, employees and shareholders.

Jon Lewis, Chair of Yorkshire Water, said: “I would like to thank Nicola Shaw for the important contribution she has made to Yorkshire Water. Under her leadership, the company secured £500m of new shareholder equity, with a further £600m committed, enabling us to embark on the largest investment programme in our history and accelerate work to strengthen the resilience of Yorkshire’s water network. She leaves the business with strong foundations for the next phase of investment and improvement.

“We are delighted that Nicola Medalova will become our next Chief Executive. She is an accomplished and inspiring leader, with deep operational experience and a strong track record of delivering major capital programmes in complex environments. She is passionate about delivering for customers and brings a strong understanding of the environmental responsibilities that sit at the heart of Yorkshire Water’s role.

“Importantly, she also knows Yorkshire Water well from her time as a Non-Executive Director on the Board. The Board believes she is the right person to lead the company through its next phase, improving service for customers, reducing pollution and delivering the investment needed to modernise Yorkshire’s water network.”

Nicola Shaw said: “It has been a privilege to lead Yorkshire Water and serve the people of Yorkshire. Although there remains a huge amount of work to do, I am extremely proud of what our colleagues have achieved, putting the business on a stronger footing for delivery across all aspects of its work. These jobs are challenging but fulfilling and I am especially grateful for the dedication and commitment of colleagues at all levels throughout the business across this county — thank you all. This now feels like the right time to begin an orderly transition to the company’s next chapter. I know Nicola Medalova will do an outstanding job leading the company and I look forward to working closely with her over the coming months to ensure a seamless handover.”

Nicola Medalova said: “I am delighted to be joining Yorkshire Water and grateful to the Board for the opportunity to lead the business through its next chapter. Yorkshire Water faces huge challenges but also great opportunities for continued improvement and I look forward to working with Nicola Shaw, the leadership team and colleagues across the business as I get up to speed. I’m looking forward to getting to know Yorkshire Water, its people and the communities it serves. My immediate priority will be to listen and learn, while maintaining a relentless focus on delivery. Yorkshire Water will ultimately be judged by what it delivers for customers, communities and the environment, and I’m excited about the opportunity to help shape its future.”

Nicola Medalova biography

Nicola is an experienced infrastructure executive and board director with a distinguished track record of leadership across strategy, operations, major capital investment, regulation, customer service and environmental management.

During her executive career at National Grid, she held a number of senior leadership positions, most recently serving as Chief of Staff to the Group CEO. In this role, she led the transition and integration of a new Chief Executive and a Group-wide strategic reset, working closely with executive leadership and the Board to align priorities and drive delivery. Her responsibilities spanned investor and stakeholder engagement, capital investment, asset management, customer delivery and corporate functions.

Previously, as Chief Operating Officer of National Grid New England, she led a 4,000-person business operating across Massachusetts, New Hampshire, Vermont and Quebec. With responsibility for strategy, regulation, customer service, operations, people, safety and environmental performance, she delivered a significant operational turnaround and positioned the business to undertake $13 billion of investment over five years.

Her broader experience encompasses major infrastructure construction and asset programmes, commercial and customer operations, and regulatory strategy and policy. She has also served as a Non-Executive Director of Yorkshire Water, bringing direct board-level experience and an understanding of the challenges and opportunities facing the water sector.

She began her career in environmental protection regulation, working with Moray Council and alongside the Scottish Government and the Scottish Environment Protection Agency. This early experience provided a strong foundation in pollution control, land and watercourse contamination, public health and flood risk management.

She is a Chartered Environmental Health Officer and a Registered Specialist in Land Condition.