The group outlined plans to eventually float Thames Water on the stock market, but vowed not to sell the company before March 31 2030 to ensure a focus on the turnaround. Thames Water – Britain’s biggest water supplier with 16 million customers and 8,000 employees – is on the brink of nationalisation as it struggles under a mountain of debts. Mike McTighe has been named proposed chairman of Thames Water should the bid be accepted, with five directors earmarked to join the board. Mr McTighe said: “There is a huge amount of work to be done to turn around Thames Water and deliver the improved service and environmental outcomes that customers and local communities deserve. Thames Water’s current management has previously said it would need over £24 billion of investment allowance for the next five years and to increase bills by more than Ofwat had agreed.