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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/utility-boss-set-for-shares-boost.jpg"><img class="alignnone size-full" title="United Utilities' director Philip Green is on course to pick up 100,000 free shares" src="http://londonglossy.com/wp-content/uploads/2010/11/min-utility-boss-set-for-shares-boost.jpg" alt="United Utilities' director Philip Green is on course to pick up 100,000 free shares"/></a></p>
<p>The boss of United Utilities is on course to pick up 100,00 free shares after announcing he will leave the water company in March.</p>
<p>Philip Green struck a deal with United when he joined in February 2006 that it would match his acquisition of 100,000 shares if he remained at the helm for five years.</p>
<p>If the share price stays at its current level, the shares he is due to be given will be worth £626,000 and are not subject to performance conditions.</p>
<p>United announced that Mr Green will be replaced by Steve Mogford, currently boss of defence electronics company Selex Galileo.</p>
<p>Mr Green is credited with refocusing the company back onto its core business as a water and sewage company. He sold many of its non-core assets, such as its Australian subsidiary for £136 million and Yorkshire gas distributor Northern Gas Networks for £86 million.</p>
<p>Most recently, United offloaded several parts of its non-regulated business to Veolia Water UK for £174.2 million.</p>
<p>The deal included operations in Bulgaria, Estonia and Poland, and outsourcing and industrial engineering contracts, such as a project to manage the building of a new waste water treatment works in the Brighton area for Southern Water.</p>
<p>The announcement did not surprise the market as there has recently been speculation that the hunt for Mr Green&#8217;s successor was under way. The Warrington-based company&#8217;s share price was not significantly changed.</p>
<p>Before taking up his role as chief executive at Selex, Mr Mogford was chief operating officer and board member at defence engineering firm BAE Systems and is also a non-executive director at listed builder Carillion.</p>
<p>He will lead a £3.6 billion investment programme in the north-west over the next five years. </p>
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