North west water provider United Utilities has announced chief financial officer Russ Houlden has decided to retire.
The listed group, which supplies water to three million homes and 200,000 businesses, said Mr Houlden will step down from its board at its annual general meeting (AGM) on April 1 and “pursue a non-executive career”.
He has held the role since 2010.
Mr Houlden, already a member of the supervisory board and chairman of the Orange Polska SA’s audit committee, will join to board of defence giant Babcock International on April 1 as a non-executive director, with a view to becoming chairman of its audit and risk committee following its July AGM.
It comes on the same day Babcock chief executive Archie Bethel announced he is to step down after three years at the helm.
Chief executive Steve Mogford said: “Russ has been an integral part of the work we have done in recent years to transform the organisation, helping us to deliver best ever levels of customer service, a more resilient network and real gains in operational performance and efficiency.
“Alongside this, Russ has helped secure a robust and sustainable financial profile for the company, including securing a fully funded pension scheme on a self-sufficiency basis.
“The board would like to thank Russ for his significant contribution and wish him well for the future.”
United Utilities said succession plans are “in progress” and Russ Houlden’s successor will be announced at a later date.
