SSE has appointed Martin Pibworth as chief executive designate to succeed Alistair Phillips-Davies who announced his decision to retire last November.

Mr Pibworth, who has held a number of key positions with the Perth-based energy firm over the last three decades, will formally take over following the annual general meeting on 17 July.

He joined SSE in 1998 and as chief commercial officer he has been overseeing SSE’s Renewables, Thermal, Energy Markets and Energy Customer Solutions businesses.

He has been at the heart of the design and delivery of SSE’s corporate strategy. He was recently named chair of CBI Scotland and is a longstanding Energy UK board member.

Today’s announcement follows a succession process, led by SSE chair Sir John Manzoni and the nomination committee with the support of independent recruitment agency Korn Ferry.

When Mr Phillips-Davies and Helen Mahy step down from the board it will have a chair, two executive directors and eight independent non-executive directors, and will comprise six men and five women. 

Remuneration Arrangements

Mr Pibworth will be paid a base salary of £970,000 per annum which will be increased to £1,050,000 from 1 April next year.

He will receive a cash allowance in lieu of pension of 12% of salary and other benefits in line with the remuneration policy.

Participation in an Annual Incentive Plan (AIP) delivers a maximum of 175% of base salary for the 2025/26 performance year, increasing to a maximum of 200% of base salary for the 2026/27 performance year. Payment is subject to performance conditions.

There is a long-term Performance Share Plan award of 275% of salary for the 2025 grant and increasing to 300% of salary for the 2026 grant. This vests three years after grant. He is required to hold all vested shares for two years.

Mr Pibworth will be required to build up and maintain a shareholding of 300% of salary as per the remuneration policy.