Yorkshire Water has announced that Nicola Shaw is to step down as chief executive after four and a half years leading the business. Infrastructure executive Nicola Medalova has been named as the next Yorkshire Water CEO. She joins the Leeds-based utility on 2 November as CEO Designate and will take over as chief executive on 1 January 2027.
Shaw will continue to lead the business during a structured handover period, working closely with Medalova. The company said the arrangement is intended to ensure continuity for customers, stakeholders, employees and shareholders.
Board credits Shaw with securing new investment
Jon Lewis, Chair of Yorkshire Water, said: “I would like to thank Nicola Shaw for the important contribution she has made to Yorkshire Water. Under her leadership, the company secured £500m of new shareholder equity, with a further £600m committed, enabling us to embark on the largest investment programme in our history and accelerate work to strengthen the resilience of Yorkshire’s water network. She leaves the business with strong foundations for the next phase of investment and improvement.”
Yorkshire Water serves more than 5 million customers. It is investing £8.3 billion between 2025 and 2030, which the company describes as its largest ever environmental investment, and says the programme will support up to 10,000 jobs. H2O Global News has previously reported on the company’s recruitment of new colleagues as it delivers its largest-ever investment programme.
Shaw said: “It has been a privilege to lead Yorkshire Water and serve the people of Yorkshire. Although there remains a huge amount of work to do, I am extremely proud of what our colleagues have achieved, putting the business on a stronger footing for delivery across all aspects of its work.”
She added: “This now feels like the right time to begin an orderly transition to the company’s next chapter. I know Nicola Medalova will do an outstanding job leading the company and I look forward to working closely with her over the coming months to ensure a seamless handover.”
Background of the incoming Yorkshire Water CEO
Medalova spent her executive career at National Grid, where she held a number of senior leadership positions. Most recently she was Chief of Staff to the Group CEO, leading the transition and integration of a new chief executive and a group-wide strategic reset.
Earlier, as Chief Operating Officer of National Grid New England, she led a 4,000-person business operating across Massachusetts, New Hampshire, Vermont and Quebec. According to Yorkshire Water, she delivered a significant operational turnaround there and positioned the business to undertake $13 billion of investment over five years.
She began her career in environmental protection regulation with Moray Council, working alongside the Scottish Government and the Scottish Environment Protection Agency. That work covered pollution control, land and watercourse contamination, public health and flood risk management. She is a Chartered Environmental Health Officer and a Registered Specialist in Land Condition.
Lewis said: “She is an accomplished and inspiring leader, with deep operational experience and a strong track record of delivering major capital programmes in complex environments.” He added: “Importantly, she also knows Yorkshire Water well from her time as a Non-Executive Director on the Board. The Board believes she is the right person to lead the company through its next phase, improving service for customers, reducing pollution and delivering the investment needed to modernise Yorkshire’s water network.”
Priorities for the leadership transition
Medalova said: “Yorkshire Water faces huge challenges but also great opportunities for continued improvement and I look forward to working with Nicola Shaw, the leadership team and colleagues across the business as I get up to speed.”
She added: “My immediate priority will be to listen and learn, while maintaining a relentless focus on delivery. Yorkshire Water will ultimately be judged by what it delivers for customers, communities and the environment, and I’m excited about the opportunity to help shape its future.”
Frequently asked questions
Who is the new Yorkshire Water CEO?
Nicola Medalova will succeed Nicola Shaw as chief executive of Yorkshire Water on 1 January 2027. She joins the company as CEO Designate on 2 November.
Why is Nicola Shaw stepping down from Yorkshire Water?
Nicola Shaw has decided to step down after four and a half years leading the business. She said it now feels like the right time to begin an orderly transition to the company’s next chapter.
What did Yorkshire Water achieve under Nicola Shaw?
According to chair Jon Lewis, the company secured £500m of new shareholder equity under her leadership, with a further £600m committed. He said this enabled the largest investment programme in the company’s history.
What is Nicola Medalova’s background?
She held senior roles at National Grid, including Chief of Staff to the Group CEO and Chief Operating Officer of National Grid New England. She has also served as a non-executive director of Yorkshire Water and began her career in environmental protection regulation with Moray Council.
Will Nicola Shaw remain at Yorkshire Water during the handover?
Yes. Nicola Shaw will continue to lead the business during a structured handover period, working closely with Nicola Medalova until she takes over on 1 January 2027.
