The head of water regulator Ofwat is to step down later this year.

Cathryn Ross will be leaving the organisation to take up a senior role in the private sector “unconnected with the water industry”.

Ms Ross, who was appointed as Chief Executive of Ofwat in October 2013, successfully led the regulator through a significant period of change, including the 2014 Price Review and the opening of the new business retail market in England this year.

She said: “Our regulatory approach is now well established and we have a strong team in place. We are set up to regulate the world’s largest competitive water retail market and we are ready for a demanding price review, which will deliver more of what matters for customers.”

The recruitment process for her successor is currently underway.

The regulator is looking for “an outstanding candidate who is enthusiastic about joining a dynamic and high performing organisation”.