National Grid Announces Zoë Yujnovich as New Chief Executive, Shares Slide

National Grid (LON: NG.) announced the appointment of Zoë Yujnovich as its next Chief Executive, succeeding long-standing CEO John Pettigrew, who will retire in November after nearly a decade in the role. 

Shares in the company were down around 1% on Thursday morning following the news.

Yujnovich, who most recently served as Integrated Gas and Upstream Director at Shell, will join the National Grid Board as Chief Executive Designate on 1 September and formally take over on 17 November. 

She also holds a Non-Executive Director role at Unilever and previously held senior positions at Rio Tinto, including CEO of Iron Ore Company of Canada.

Chair Paula Reynolds praised outgoing CEO Pettigrew for his “exemplary” leadership and said the board was “delighted” with Yujnovich’s appointment, calling her “an inspiring leader” with experience in delivering large-scale projects in politically complex environments.

Pettigrew, who joined the company as a graduate in 1991, said it had been “an immense honour” to lead the company and expressed confidence in his successor. 

“Zoë Yujnovich has all the attributes required to deliver on the significant growth opportunity ahead,” he said.

Yujnovich stated she was “honoured” to be selected and committed to ensuring energy remained “secure, affordable and reliable” across the UK and US, where National Grid operates.

The leadership transition comes as the company positions itself to capitalise on growing infrastructure investment linked to the energy transition.