StockMarketWire.com - Power utility National Grid said the head of its US business, Dean Seavers, was standing down with immediate effect for personal reasons.

Seavers would stay with the business until the end of December to ensure a smooth leadership transition and handover.

He would be replaced on an interim basis by Badar Khan, who was currently director of corporate development and National Grid Ventures.

National Grid said the process to identify a permanent successor for Seavers would include both internal and external candidates.

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