Strategy/Company/Operations Update
Strategy/Company/Operations Update
Centrica plc
8 February 2017
Centrica plc
(‘Centrica’ or ‘the Company’)
Centrica organises its business units into global consumer and business divisions
Centrica plc announces that it is accelerating an organisational change to form global consumer and global business divisions, further focusing itself around the residential consumer and business customer. This follows an increasing focus on home and business end-users in the last two years, and the recognition of the similarity of customer trends in all countries in which it operates.
This move also follows the departure of Badar Khan, Chief Executive of Energy Supply & Services in North America in order to take up a new role on the Group Executive Committee of National Grid. He will leave the Group on 6 March 2017.
Mark Hodges will become Chief Executive, Centrica Consumer, with responsibility for all B2C activities globally and Mark Hanafin will take on the role of Chief Executive, Centrica Business, with similar responsibility for all B2B activities.
Mark Hodges will continue to lead the UK Home, Ireland and Connected Home businesses and will also assume responsibility for North America Home. Manu Asthana, President, North America Home, will now report into Mark.
Mark Hanafin will continue to lead Distributed Energy & Power, Energy Marketing & Trading and Central Power Generation and will also assume responsibility for UK Business and North America Business. John Schultz, President North America Business and Gab Barbaro, Managing Director UK Business, will both now report into Mark Hanafin. John Schultz will also take on the role of President, Centrica North America, ensuring that Centrica remains coherent in the region. In this regard, John will also report to Mark Hanafin.
Exploration & Production (E&P) will continue to be run by Chris Cox, Managing Director E&P who will now report directly to Iain Conn, Group Chief Executive.
These changes take effect from 6 March 2017. Further details of the Group’s global consumer and global business strategies will be outlined at our 2016 Preliminary Results on 23 February 2017.
Iain Conn, Group Chief Executive, said:
“The world of energy and services is changing rapidly, and Centrica is responding to new global trends as we serve our residential consumers and business customers. Centrica’s strategy is to focus on the changing needs of our customers – in the home and business segments. This reorganisation enables a more coherent strategy built around the end-customer and gives us the ability to ensure capability is developed globally and efficiently in support of that strategy. This builds on the achievements of the team over the last two years, and I remain excited about our future prospects.
Badar Khan has made an important contribution to Centrica over 14 years, leading a number of our businesses in the UK and North America and we wish him well in his future endeavours. I am particularly grateful for the significant contributions Badar made during our recent strategic review and for the way in which he has led our North American businesses.â€
Enquiries:
Centrica Investor Relations +44 (0) 1753 494900
Centrica Media Relations +44 (0) 1753 494105
Centrica plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD
Registered in England & Wales number: 3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229
View source version on businesswire.com: http://www.businesswire.com/news/home/20170208005671/en/
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