A highly regarded businessman and senior expert adviser in nuclear power, finance, infrastructure and water supply has been appointed chair of the Nuclear Industry Association (NIA).

Dr Tim Stone CBE will take up the role in December at the NIA, a membership organisation that represents the UK’s civil nuclear industry and supply chain, much of which is based in Cumbria.

He will take the reins from Lord John Hutton, the former Barrow and Furness MP who has served in the role since 2011, when the NIA’s board ratifies the appointment at its Annual General Meeting on December 5.

Dr Stone is currently a non-executive director of the Arup Group Board and a non-executive director of Horizon Nuclear Power.

He has served as expert chair of the Office for Nuclear Development in the Department for Energy and Climate Change, and the Senior Advisor to five successive Secretaries of States responsible for Energy between 2007 and 2013. Other roles have included serving as a member of the board of the European Investment Bank – having had a career in investment banking in New York and London – and chairman and founder of KPMG’s Global Infrastructure and Projects Group.

He said: “I’m delighted to have been asked to become the NIA’s new chairman.

“It’s a pivotal time for the industry, with a wide-ranging and ambitious sector deal to implement, a new build programme underway, important export opportunities and domestic work for our world-leading civil nuclear supply chain.

“I look forward to working with all NIA member companies to advance the interests of all our industry, and to help support trust and confidence that the UK can deliver and satisfy the clear need to ensure nuclear remains a key part of the UK’s future low carbon power mix. We need to make this happen for the future of our children and grandchildren.”

Tom Greatrex, chief executive of the NIA, welcomed the appointment, adding: “At such a crucial and exciting time for the UK’s civil nuclear industry, his appointment will be of great benefit as the industry embraces new opportunities and rises to current challenges of security of energy supply and climate change.

He also thanked Lord Hutton for “his support and expertise”.

Lord John Hutton said: “I am proud to have served as chairman of the NIA for close to eight years, during which time the nuclear industry has gone through significant change.

“As an industry we have worked hard to ensure new nuclear is built to replace the power which will be lost as old stations retire, and more recently for nuclear to remain at the forefront of Brexit negotiations.

“I step down from chairing the NIA with much achieved, but also a big agenda for the future at a critical point for the country. As the UK makes crucial decisions on our future low carbon power mix for the decades to come, it is a good time to hand over the reins to Tim Stone, who will bring his experience to support the UK civil nuclear industry.”

Dr Stone was appointed a Commander of the British Empire in the 2010 Birthday Honours List for services to the energy industry.

He holds an undergraduate degree and a doctorate degree from St Catherine’s College, Oxford, and is a Fellow of the Institution of Civil Engineers, an Honorary Fellow of the Nuclear Institute, a Member of the British Computer Society, and a Chartered Engineer.

He was recently awarded the Hinton Prize by the Nuclear Institute for outstanding contribution to the nuclear industry.