Seavers to succeed King as National Grid’s U.S. president

NATIONAL GRID'S U.S. operation will have a new president - former General Electric and United Technologies executive Dean Seavers.
NATIONAL GRID'S U.S. operation will have a new president - former General Electric and United Technologies executive Dean Seavers.

WALTHAM – Former General Electric executive Dean Seavers will succeed Thomas King as National Grid’s U.S. president, effective March 31.

The change was announced on Thursday, and is part of a long-planned succession effort by the company’s Board of Directors, a release from National Grid stated.

Seavers will start working for the company on Dec. 1. King, who has been president and executive director for nearly eight years, will remain on National Grid’s board until March 31, the end of the company’s fiscal year.

Seavers, also a former United Technologies executive, will work with King for four months, “to ensure the best possible leadership transition, and to continue delivering on the company’s priorities – safety, reliability, affordability and customer and community responsiveness – as it builds the gas and electric networks for the twenty-first century,” the company stated.

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Under King’s leadership, National Grid’s U.S. business has seen improving returns and customer service led by a program of regulatory engagement and filings, plus a major restructuring in 2011. Since 2009, returns on equity have improved from 6.9 percent to more than 9 percent, representing a significant improvement in performance, the company said.

“Tom King has made an enormous difference to the performance of National Grid during a period of significant regulatory engagement,” Steve Holliday, National Grid CEO, said in a statement. “Tom’s experience and judgment through this process was invaluable. He leaves behind an organization well aligned to meet the needs of its consumers and regulators.”

Holliday said Seavers “brings a wealth of experience in strategy and delivering performance improvement.”

“That enhanced focus on strategic and operational excellence will enable the business to continue to deliver strong customer results for years to come,” he said.

Seavers said that he is excited to join the company.

“We are well-positioned for continued success, with many opportunities ahead to grow the business and drive further performance improvements,” Seavers said.

King stated, “I am proud to leave behind a strong business with an excellent management team and track record of improving returns. With a strong focus on delivering organic growth and performance improvement, it now feels like the right time to transition the leadership of the business to new hands. After the end of my tenure, I will continue to watch National Grid’s progress with great interest.”

Seavers, a Sandusky, Ohio native, graduated summa cum laude with a bachelor’s degree in business from Kent State University, and earned an MBA from Stanford University’s Graduate School of Business.

A spokesman for National Grid said there will be no changes regarding the company’s Rhode Island operations as a result of the announcement.

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