Background
In accordance with Clauses 5.6-5.9 of the Retail Energy Code (REC), we are notifying all REC Parties that the REC Board, at its meeting on the 12th of June 2024, unanimously approved a recommendation of the Nominations Committee that David Wylie, Non-Executive Director (Commercial) be re-appointed for a second 3-year term from 1st October 2024.
Under Clause 5.9(b), a vote will be held amongst REC parties within 3 months of the Board’s recommended decision to determine this re-appointment.
Context
The REC has encouraged a new approach to Code Governance and an important part of this is an independent REC Board made up of Non-Executive Directors (NEDs) who provide knowledge, experience, and advice, in support of the REC mission and to the benefit of all its community.
The NEDs act as the Board’s first line of accountability, appraising performance, challenging approaches and judgements, and scrutinising delivery. They support and guide the Executive Team and act as a conduit for information between the Executive and the Board in their specialist areas.
In this Consultation, Parties are asked for approval of a Recommendation by the RECCo Nominations Committee, and approved unanimously by the Board, to re-appoint David Wylie in the role of NED with particular emphasis on Commercial matters.
About David Wylie, RECCo NED (Commercial)
David was appointed NED (Commercial) on the 1st October 2021 for an initial term of 3 years. He has worked in procurement for well over twenty years. Notable roles include seven years with Centrica plc as Head of Strategic Procurement, then Chief Procurement Officer, and two years as Chief Procurement Officer for Transport for London (TfL), where he was a member of the London Underground Board with the core responsibility of delivering the supply base and real estate to underpin an ambitious strategy.
Since early 2020, David has been the Commercial and Procurement Director for Thames Water, where he led several new activities, including the creation of a Digital Procurement team, the development of strategic relationships with core supply partners, and the adoption of a Supplier Management approach incorporating contract performance, relationship, and risk management with suppliers.
David, then, brings considerable knowledge and experience on commercial and procurement matters to the RECCo Board, an area of great importance to the organisation.
Dr Chris Anastasi, Chair of RECCo
“I am delighted that the Nominations Committee and the Board have invited David to continue as NED (Commercial) for a further three-year term.
David has been an excellent NED for RECCo over the last three years, providing advice and support to the Board and the Executive Team as the organisation and its remit have grown. He has Chaired the Finance and Audit Committee, working closely with the Chief Financial and Commercial Officer to ensure the organisation’s financial well-being and the Risk Committee, helping to bring greater rigour to the organisation’s Risk Register; he has also been a valuable member of the Nominations Committee. Most recently, David has helped the executive team develop its strategy for the re-procurement of several key services in the coming years.
It is important that there is continuity as the organisation evolves further over the next few years, and David’s re-appointment for a second term will help provide this. I am pleased to recommend him to you.”
The voting process
You can vote using the following link. Voting is undertaken in accordance with the REC on a simple majority basis of all REC parties and will close at 5pm on 15th July 2024.
The results of the vote will subsequently be communicated to all REC parties.
Review of REC appointment process
In line with its commitment to continuous improvement, the REC Board will review the appointment process for directors to enhance clarity in the REC arrangements. Any recommended changes will be submitted through the REC Change Process for stakeholder consideration.
