United Utilities CFO Russ Houlden to retire

United Utilities said on Wednesday that Russ Houlden has decided to retire as chief financial officer and will step down from the board at the annual general meeting "to pursue a non-executive career".

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Houlden, who has been CFO since 2010, is already a member of the supervisory board and chairman of the audit committee of Orange Polska and will be appointed a non-executive director of Babcock International on 1 April, with a view to becoming chairman of the company's audit and risk committee following its annual meeting in July.

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."

United Utilities said succession plans are in progress and an announcement about Houlden's successor will be made at a later date.