FTSE-100 Boss Liv Garfield: Iconic Female CEO Steps Down After Years of Leadership

In a significant corporate shift, Liv Garfield, the veteran CEO of Severn Trent, has announced she will step down after more than a decade in the top role. Her departure marks the end of an era, as she is set to leave at the end of December 2025. This transition not only signals a change in leadership but also highlights broader conversations around gender diversity in the upper echelons of the FTSE 100.

A Storied Career: From Openreach to Severn Trent

Liv Garfield, born in 1975 as Olivia Ruth Burgess, built her reputation in the telecommunications sector. She studied at Cambridge and joined BT via a graduate role, eventually becoming chief executive of its Openreach division. There, she oversaw a major fiber-broadband rollout, a £2.5 billion project that transformed UK connectivity. 

In April 2014, Garfield took the helm at Severn Trent, a major water utility company listed on the FTSE 100. Over the years, she earned a reputation for decisive leadership, engineering modernisation, and financial discipline.

Why Her Exit Matters

Garfield’s departure is significant for several reasons:

1. Longevity and Legacy
   With 11 years at the top, she has been the longest-serving female CEO in the FTSE 100. Her tenure saw Severn Trent navigate both operational challenges and environmental pressures, while also driving strong financial performance.
2. Impact on FTSE 100 Diversity
   Her stepping down will reduce the number of female-led FTSE 100 companies. According to experts, this change will drag down the average tenure for women CEOs in the FTSE 100. 
3. Handing Over to New Leadership
   James Jesic, currently Severn Trent’s capital and commercial services director, will assume the CEO role starting January 2026. Garfield will stay on until March to ensure a smooth handover. 

Garfield’s Leadership: Performance & Challenges

Under Liv Garfield, Severn Trent saw solid financial results. In a recent half-year report, pre-tax profits surged sharply, prompting the utility to raise its outlook and performance incentives. 

On the environmental front, the company has been active in reducing water leakage and tackling sewage spill issues. But it has not been without criticism: Severn Trent has faced public backlash for pollution and been fined in the past. 

Still, under Garfield’s leadership, the company has earned recognition for gender diversity. Severn Trent was named a top performer in the 2025 FTSE Women Leaders Report, ranking highly in both board-level representation and gender balance in senior management. Garfield herself championed policies like extended paid maternity leave and support for women through menopause and leadership confidence training. 

Why This Exit Is a Sign of Broader Trends

Garfield’s resignation comes amid a notable shift in FTSE 100 boardrooms. Reports show that although women now hold around 44.7% of board seats in FTSE 100 companies, the number of female CEOs is declining. In fact, when Garfield and Emma Walmsley of GSK both step down, the index-wide average tenure for female leaders will shrink sharply. 

These developments highlight a structural challenge: while boards are becoming more gender-diverse, executive leadership roles remain disproportionately male. According to an FTSE CEO-diversity report, only a handful of FTSE 100 companies are currently led by women. 

Garfield’s Leadership Style & Heritage

Garfield’s leadership style has often been praised for being direct, performance-focused, and grounded. Early in her career, she gained recognition, even being featured on Fortune’s “40 Under 40” list. She is known to have a “low tolerance threshold for faffers,” according to a profile published when she was appointed at Severn Trent. 

In addition to her role as CEO, Garfield has also been involved in public discourse around corporate governance, regulation, and diversity. Her tenure has combined strategic vision with a strong emphasis on operational excellence.

What’s Next for Liv Garfield — and Severn Trent

Garfield has said she does not plan to retire quietly: she expects to re-enter the corporate world eventually, bringing her experience into a new leadership role. For now, she will fully support the transition to Jesic over the coming months.

For Severn Trent, the leadership handover represents a critical moment. Under Jesic, the company will need to maintain momentum on its sustainability goals, financial performance, and customer trust. How well that happens could define the company’s next chapter.

Why Investors & Market Observers Should Watch This

• Implications for FTSE 100 Stocks: Severn Trent is a key player in the utilities sector. Leadership change can influence investor sentiment, capital planning, and regulatory strategy.
• Gender-Diversity Signal: Garfield’s exit may intensify debates about gender representation at the top level of publicly traded companies.
• Strategic Rebalance: Jesic brings deep internal experience, but will face the challenge of building on Garfield’s legacy, especially in a sector under scrutiny from both regulators and the public.

Conclusion

Liv Garfield, one of the most influential leaders in the FTSE 100, is stepping down after more than a decade at the helm of Severn Trent. Her departure marks the end of an era, as she has been one of the longest-serving and most prominent female CEOs in the UK. Her leadership shaped the company’s direction, strengthened its performance, and set new standards for diversity and innovation in the corporate world.

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