- Water utility United Utilities said chief financial officer Russ Houlden would retire at its annual general meeting in July, to pursue a non-executive career.

Houlden had agreed to become a non-executive director of defence contractor Babcock International in April.

United Utilities said succession plans were in progress.

'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,' chief executive Steve Mogford said.

'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.'

At 8:43am: [LON:UU.] United Utilities Group PLC share price was -5.2p at 990p

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