News leaks out of BAA head's history

So BAA Chief Stephen Nelson has been sacked - sorry, stepped down. He is being replaced by Colin Matthews of Severn Trent Water. He sounds like an honest kinda guy, doesn't he?

But hang on just a minute folks - a quick glance at Severn's website tells a different story. In November last year the Serious Fraud Office charged Severn Trent Water with three offences relating to leakage data supplied to Ofwat between 2000 and 2002. Under Matthews's watch Severn Trent was trying to hide how much water was pouring out of their leaky pipes. This in addition to a £50 million fine for missing leakage targets. I'm sure he's learnt his lesson though. Naughty naughty!

So was this the reason Matthews stepped down - sorry, got sacked - from Severn Trent? Turns out that Matthews is a child of the Eighties - an asset stripper - and sold off a lot of their business before leaving. Could that be why BAA wants him - to manage the break up of their monopoly?

Matthews is such a busy man. He's also a non-exec director of Mondi - the company that likes to cut down forests to make paper. Wow - Matthews is a one-man-planet-destroying-band. Welcome to BAA Colin. You'll fit right in!