October 20, 2014 / 6:21 AM / 3 years ago

Severn Trent poaches Shire CFO to head finance department

LONDON, Oct 20 (Reuters) - British water supplier Severn Trent has appointed James Bowling, currently interim chief financial officer (CFO) at drugmaker Shire, 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, only to see the U.S. firm walk away in response to proposed tougher tax regulation.

Severn Trent 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)

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