In this episode of the Exec Exchange podcast, host Piers Clark speaks with Darren Cleary, the new Managing Director of Sydney Water, about leadership at the largest water utility in Australia. Darren outlines Sydney Water’s role serving around 5.5 million customers across 13,000 square kilometers, providing water, wastewater, recycled water, and some stormwater services, operating within an economically regulated, state-owned corporation model. He describes key challenges including rapid greenfield growth, asset renewal and digital expectations, a $32 billion 10-year capital need amid affordability pressures, emerging PFAS concerns, unexpected oil and grease impacts from a major ocean outfall facility, and rising water demand from data centers, emphasizing transparent community engagement, appropriate pricing frameworks, and a high-trust, no-blame learning culture.