How sewage, leaks and shortages left debt-laden Thames Water on the brink
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Under Sarah Bentley’s leadership, Thames Water was castigated repeatedly for dumping sewage and failing to control leaks - Jason Alden/Bloomberg

Just a couple of months into her job running Thames Water, Sarah Bentley promised campaigners she would clean up the act of Britain’s biggest water supplier.

Speaking at a summit to tackle chalk stream pollution, the chief executive vowed to “do what is right for these rivers”.

“I’m absolutely committed to ensuring we’ll play our part in restoring these iconic water bodies to their former glory,” she said after the meeting three years ago.

But since then, things have not gone as smoothly as she perhaps hoped.

Under Bentley’s leadership, Thames Water has been castigated repeatedly for dumping sewage in rivers while failing to meet other performance targets.

In recent weeks, it has emerged that leaks at Thames Water are at a five-year high and the company is once again on course to miss them in 2023.

Thames was also accused of attempting a “flimsy PR stunt” after Bentley announced she was forgoing an annual bonus, at the same time as a report showed the near-doubling of her pay – to around £1.5m – via other means.

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Sarah Bentley, who quit as Thames Water boss on Tuesday, received a reported £2m in 2022 - Thames Water/PA

Thames Water defended the one-off extra payments, insisting they were “unrelated to performance” and part of a separate package agreed when the company hired her.

On Tuesday, however, it was suddenly announced that Bentley had resigned and her responsibilities handed over to colleagues with immediate effect.

In the statement, the departing boss said it had been an honour to run the company and claimed to have laid down the foundations of the turnaround she had promised.

But no explanation was given for her shock exit – and she leaves behind a legacy that is half-finished at best.

Thames Water supplies drinking water to 15 million people in London and the Thames Valley and made a profit of £536m in the six months to the end of September.

However, bosses have found themselves personally in the crosshairs over boardroom largesse and huge shareholder payouts.

Bentley, who has been chief executive since September 2020, received a reported £2m in 2022.

The company was heavily criticised under former owners Macquarie for paying out more than £2.7bn in dividends, while taking on over £2.2bn in extra debt.

Macquarie has always maintained it is a responsible investor. The private equity behemoth sold its last holding in the business for a reported £1.3bn in 2017 and later bought rival Southern Water.

Since then, the Thames Water board has sought to attract investors with a longer-term view of things, such as pension funds.

But the turnaround process has been hard-going.

Thames Water has been fined repeatedly over water pollution, receiving a penalty of £51m alone from regulator Ofwat last year.