BAA chief said to be replaced by Colin Matthews
Stephen Nelson, the chief executive of Heathrow airport operator BAA, is to step down on April 1 and be replaced by Colin Matthews, the former head of water group Severn Trent, the Financial Times said on Wednesday.
Khmer Rouge chief torturer weeps for 14,000 victimsNelson's departure follows a wave of criticism over falling service standards at BAA's three London airports, Heathrow, Gatwick and Stansted, and comes weeks before the March 27 opening of Heathrow's 4 billion pound-plus Terminal 5.
It is the first big management change to be instigated by Nigel Rudd, who was appointed chairman last summer.
BAA's Spanish owner, construction group Ferrovial, said on Tuesday it was studying alternatives to a 10 billion pound debt refinancing because of credit market turbulence.
BAA could not immediately be reached for comment.
(Reporting by Mark Potter; Editing by Quentin Bryar)
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