UNITED Utilities today confirmed that chief executive Philip Green is to step down.

Mr Green will leave his post, which he has held for five years, in the spring.

He will be replaced by Steve Mongford, 54, currently chief executive of SELEX Galileo, an Essex based defence electronics business, owned by Italy’s Finmeccanica.

He was previously chief operating office of BAE Systems, when he was a member of the BAE board. He spent a large part of his earlier career with BAE.

Mr Mongford is currently a non-executive director of construction firm Carillion.

Water company chairman John McAdam said: “I am delighted to welcome Steve to United Utilities. We are appointing a strong chief executive with strategic and operation capability to lead UU thorugh the next stage of its development.

“We have a clear plan to invest a record £3.6bn over the next five years and Steve is the right man to lead that programme.”

Mr McAdam added: “Philip has made an invaluable contribution to the transformation and development of UU since joining in 2006.”