United Utilities Group PLC (LON:UU) today announced that Russ Houlden, Chief Financial Officer of the Company since 2010, has decided to retire and will step down from the Board at the 2020 AGM to pursue a non-executive career. Russ is already a member of the supervisory board and chairman of the audit committee of Orange Polska SA and he will be appointed a non-executive director of Babcock International Group PLC on 1 April 2020 with a view to becoming chairman of the Company’s audit and risk committee following its AGM in July.
Steve Mogford, Chief Executive, 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.’
Succession plans are in progress and an announcement regarding Russ Houlden’s successor at United Utilities will be made at a later date.