Robert Watson, chief executive of the Regulatory Authority of Bermuda, has resigned for personal reasons.

Mr Watson, a former president and CEO of SaskPower in Saskatchewan, Canada, had taken up the post in January this year.

The chairman of the Regulatory Authority, Carl Musson, said in a statement today: “While the timing is regrettable, I have every confidence that our capable staff will be able to run the authority until a new chief executive is on board.

“We have a number of irons in the fire, and will update the public as quickly as we can as to our progress. In the meantime we will also use the opportunity to retool resources as we prepare to take over regulation of the electricity sector in Bermuda.”

Kyle Masters, the authority’s legal adviser, has been appointed interim chief executive.