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Severn Trent poaches Shire CFO to head finance department

Reuters - UK Focus

LONDON, Oct 20 (Reuters) - British water supplier Severn Trent (BSE: TRENT.BO - news) has appointed James Bowling, currently interim chief financial officer (CFO) at drugmaker Shire (Xetra: S7E.DE - news) , as its new finance director following the planned retirement of its current CFO.

Bowling will leave Shire at the end of the first quarter of 2015, after a turbulent period for the group which agreed a $55 billion takeover deal with AbbVie (Xetra: 4AB.DE - news) , only to see the U.S. firm walk away in response to proposed tougher tax regulation.

Severn Trent (Other OTC: STRNY - news) also said on Monday that it would cut three director posts with effect from Jan. 23, leaving two executive directors and six non-executive directors. (Reporting by Karolin Schaps; editing by Kate Holton)