The chief financial officer at Cumbria’s water supplier, United Utilities, is to retire in April.

Russ Houlden will formally step down at the company’s Annual General Meeting on April 1.

Mr Houlden – who has been with the company for almost a decade – is retiring to pursue a non-executive career.

His is due to be appointed a non-executive director of engineering and infrastructure giant Babcock International Group Plc on April 1, with a view to becoming chair of its audit and risk committee following its AGM in July.

Mr Houlden is already a member of the supervisory board and chairman of the audit committee of telecommunications provider Orange Polska SA.

United Utilities chief executive, Steve Mogford, praised Mr Houlden’s impact on the company.

“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,” he 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.

“The Board would like to thank Russ for his significant contribution and wish him well for the future.”

An announcement on his successor will be made ‘at a later date’, the company said.