UU’s Green to step down as successor named

PHILIP Green, chief executive of United Utilities, the North West’s only FTSE100 company, is to leave the business at the end of March, it was announced today.

He will be replaced by Steve Mogford, currently with Italian defence group  Finmeccanica.

It is understood he will be focusing his time on his charity work in Africa. Contrary to reports at the weekend he will not be receiving anything like £4m in pay and bonuses on leaving, with a figure of around £1m likely.  

Mr Mogford, 54, will become chief executive on March 31 when Mr Green steps down. He is currently chief executive of SELEX Galileo, the defence electronics company owned by Finmeccanica and is a former chief operating officer at BAE Systems.  He has strong North West roots and still lives in Chorley, Lancashire.

John McAdam, chairman of UU, said: “On behalf of the board, I am delighted to welcome Steve to United Utilities.  We are appointing a strong chief executive with the strategic and operational capability to lead United Utilities through the next stage of its development.

“We have a clear plan to invest a record £3.6bn in the North West over the next five years and Steve is the right man to lead that investment programme.  We look forward to working with him.

Mr McAdam said Mr Green had made an “invaluable contribution” to the Warrington-based business.

“Under his leadership United Utilities has delivered its strategy to focus on its core water and wastewater activities and divested the majority of its non-regulated interests. 

“Steve is joining United Utilities at a time when the company is implementing a range of efficiency and performance improvements in its core business and is well positioned to deliver out-performance in respect of its regulatory contract.”

Mr Mogford, pictured,  said: “I am delighted to be joining United Utilities and it will be a privilege to lead the organisation.  It is a great business that is facing an exciting future.

“Philip and his colleagues have done an excellent job and I am looking forward to working closely with the United Utilities team to build on their achievements.”

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