A CHORLEY man has been named the new boss of the North West’s largest company.

Steve Mogford, who lives in Chorley, will take the helm at water giant United Utilities early next year.

Former BAE Systems boss Mr Mogford, who is currently with Italian defence group Finmeccanica, will replace Philip Green as the FTSE 100-listed firm’s chief executive.

Mr Mogford said: “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.”

United Utilities chairman John McAdam added: “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.”

Mr Mogford is a former chief operating officer at BAE, which employs thousands in Lancashire.

Warrington-based United Utilities is the North West’s largest public company and the only one from the region listed on the FTSE 100.

Earlier this week the firm announced a 24 per cent drop in half-year profits to £196million on sales of £748 million for the six months to September 30.