00:00the london and valley water consortium a group made of lenders to the utility giant said lord hutton has been
00:07selected as its choice as independent chair
00:10designate for the firm it comes two months after the group said it would appoint four new directors to the
00:17thameswater board if its move was successful as independent chair lord hutton would take on responsibility for overseeing thameswater's 10
00:26-year turnaround program the peer served as mp for barrow and furness from 1992 to 2010 holding a number of
00:35cabinet roles including work and pension secretary business secretary and
00:40defense secretary the consortium including uk and us investment companies such as elliot management and american private capital firm apollo
00:49global management previously said it was looking at offering a golden share to the government as part of a revised
00:56rescue deal prime minister andy burnham has signaled he wants to bring in a 10-year plan to re-nationalize
01:02the water industry saying reform is needed to put the public interest first but the government has said in the
01:08past it would prefer a market
01:10solution for thameswater which has around 16 million customers across london and the southeast however the influential environment food and
01:19rural affairs committee of mps said last month it believes the potential takeover by lenders should be rejected
