Flood Re has appointed Shirel Stedman (pictured) to the board as a non-executive director (NED).
According to Flood Re, Stedman’s appointment “comes at a critical time,” as the impacts of climate change continue to grow and Flood Re aims to exit the market after 16 years.
Stedman, whose appointment is effective January 16, brings over 30 years of relevant experience. She is currently working at the Ministry of Defence as global head of growth. In that role, she leads the development of hydrographic data, and acts as chair of the Severn and Wye Regional Flood Coastal Committee. Stedman began her career in the civil engineering and infrastructure sector, where she advocated for sustainable solutions and enhancing the environment, a release said.
In addition to her experience with the Ministry of Defence, Stedman also brings her board experience. She is a board member of the Chartered Institute of Water and Environmental Management.
“I am delighted we have appointed Shirel who brings a wealth of knowledge about flooding and water management, the environment and technical expertise,” said Flood Re chair Mark Hoban. “Her passion for this sector along with a strong network and enthusiasm will enhance the diversity of perspectives on the board to guide Flood Re as we work towards our exit from the market in 2039.”
“I am delighted to be joining the Flood Re board at such a critical time,” commented Stedman. “Managing flood risk has never been more important as we face a global climate emergency. I am passionate about flood management and look forward to working with the wider leadership team to navigate the challenges ahead using my technical skills and expertise to build on Flood Re’s excellent work.”
Flood Re also noted in a release that Stedman’s board appointment comes after the announcement that Professor Paul Leinster CBE would be stepping down from the board at the end of March 2023.
Of note, a working paper published by the Bank of England last October suggested that Flood Re’s presence has had a “weak impact in lower income and more deprived areas but a stronger impact in higher income and less deprived areas,” thus disproportionately benefitting wealthier neighbourhoods in terms of value appreciation.
