Meet the Board

Meet our Board.

Keith Ludeman - Non-Executive Chairman

Non-Executive Chairman, Chair of Nomination Committee

Mr Ludeman was appointed to the Board in July 2012. He is the Non-Executive Chairman of Aspin Group, TXM Plant, and the London Transport Museum. He is also a Non-Executive Director of Interserve and Eversholt Rail Group. Formerly, he was Chief Executive Officer of GoAhead Group plc and has 40 years’ experience in the transport industry.

Tracey Wood - Independent Non-Executive

Independent Non-Executive, Chair of Remuneration Committee, and Member of
Nomination Committee and ARAC

Ms Wood joined the Board on 1 January 2017 as an independent non-executive director.  She is currently the Legal Director and Company Secretary at Costain Group plc and also has responsibility for human resources across the Group.  She is a Director of The Costain Charitable Foundation.  Ms Wood has a background in construction and commercial law and was formerly a partner at Hammonds.

Anthony Hemus - Independent Non-Executive

Independent Non-Executive, Chairman of ARAC, Member of Nomination and Remuneration Committees.

Mr Hemus joined the Board on 1 April 2016 as an independent nonexecutive director. He was an audit partner at PricewaterhouseCoopers for 23 years and, for the final 4 years of his career, was one of the two National Risk and Quality Partners for the Audit
and Assurance section of the firm. He retired from PricewaterhouseCoopers on 30 June 2013.

Hajime Ichishi - Non-Executive


Mr Ichishi is Deputy Manager of the ITOCHU Corporation of Japan, responsible for development of ITOCHU’s global water and environment sector project. He has held various senior positions within the Itochu group. He is also a nonexecutive director of Canaragua Concesiones, S.A. He was appointed to the Board on 10 May 2012

Indradoot Dhar - Non-Executive

Mr Dhar re-joined iCON in 2017 to focus on asset management and risk management.

He originally joined iCON in 2006 as part of the Deutsche Bank graduate class, working on investments across all infrastructure sectors, with a particular focus on the origination and management of assets in Southern Europe. From 2013 to 2017, he worked at Cambridge Associates where he advised pension and sovereign wealth funds on infrastructure and real asset allocations.

Paul Malan - Non-Executive


Mr Malan is the Senior Partner of iCON Infrastructure LL P, an independent infrastructure investment firm which he founded in 2011. Mr Malan has over 20 years of experience in infrastructure advisory and investment at iCON Infrastructure LL P, Deutsche Bank and
Macquarie Bank. He was appointed to the Board on 7th July 2016.

Tim Tutton Independent Non-Executive

Independent Non-Executive, Member of Nomination and Remuneration Committee and ARAC

Mr Tutton was appointed to the Board in January 2015. He is an economic consultant specialising in economic regulation, especially in the energy sector. Currently a Panel Member at the Competition and Markets Authority. His previous roles have included ‘UK Director of Regulation’ at National Grid and ‘Director of UK Utility Regulation’ at PricewaterhouseCoopers.

Mel Karam - Chief Executive Officer

Mel Karam is the Chief Executive of Bristol Water plc, having joined the organisation in April 2017. Mel joined Bristol Water from KPMG International where he was a Partner and Global Head of Asset Management. With over 30 years of experience, Mel has a proven track record in asset management and capital delivery in the power and utility industry. As well as being an Asset Management practitioner, Mel has advised many infrastructure organisations globally on strategy and value creation from their assets. Mel is an engineer by profession with a First Class degree in Mechanical Engineering and an MBA from London Business School.

Mick Axtell - Chief Financial Officer

Mick Axtell was appointed to the Board on 30 January 2014. He joined the Company in September 2013 as Deputy Finance Director, was appointed Finance Director in January 2014 and became CFO in November 2015 and now manages the Corporate Services Directorate (CSD).

Prior to joining the Company he held a number of senior Finance roles at RWE, one of Europe’s leading electricity and gas companies.