Centrica Board and Executive Committee changes
Centrica Board and Executive Committee changes
Centrica PLC
Centrica plc (“Centricaâ€) today announces changes to the responsibilities of its Executive team and the Board composition.
British Gas Residential, British Gas Services and British Gas Business have been combined into a single customer-focused retail operation, British Gas. The new structure will enhance the service and product proposition delivered to customers and will drive additional value and growth within British Gas. Phil Bentley, previously Managing Director of British Gas Energy, will assume responsibility for the new organisation with immediate effect, as Managing Director of British Gas. Phil Bentley remains a director of Centrica.
Deryk King, President and Chief Executive Officer of Direct Energy and a member of Centrica’s Executive Committee, has decided to retire and will leave his position with Direct Energy in July 2009, and subsequently depart from Centrica at the end of 2009. Over the last eight years Deryk has built Centrica’s North American presence from a concept to a business turning over almost £6 billion and delivering an annual operating profit of over £200 million. The Board would like to take this opportunity to thank him for his huge contribution.
Chris Weston, previously a member of Centrica’s Executive Committee and Managing Director of British Gas Services, will succeed Deryk as President and Chief Executive Officer of Direct Energy on 1 July 2009 after a period of handover. Chris will also join the Board of Directors of Centrica at this time. He will remain a member of the Executive Committee. Chris moves to North America at a very important point in the development of Direct Energy. He takes on a large and well established business which also has a clear strategy for future growth within Centrica. Chris joined Centrica in 2001 and, over the last 3 years, he transformed the operational and financial performance of British Gas Services. Prior to this Chris was Managing Director of British Gas Business, the commercial energy supply operation in the UK.
Chairman Roger Carr said, “These changes build on the excellent operational progress Centrica has made under the leadership of Sam Laidlaw, and provide the structure and leadership required to maximise the potential of the UK and North American customer businesses. I want to thank Deryk King personally for the commitment he has shown over many years in building up Direct Energy from scratch to a very successful business.â€
Paul Walsh, a Non-Executive Director of Centrica will step down from the Board of Centrica at the Annual General Meeting on 11 May 2009. Paul joined the Board in March 2003. The search for a replacement has commenced.
Chairman Roger Carr said, “The last six years has been a time of great challenge and change for Centrica. I would like to thank Paul for the invaluable advice and guidance he has provided during this time.â€
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