Sector News

Centrica Continues Boardroom Reshuffle with New British Gas Head

October 31, 2014
News
(Reuters) – Britain’s largest energy supplier Centrica will next month promote one of its managing directors to temporarily head up its British Gas business, progressing with a board reshuffle that started earlier this year.
 
Ian Peters, currently managing director of British Gas residential energy, will start his new role on Dec. 1, replacing outgoing international downstream leader Chris Weston, but only on an interim basis and not as a member of the board.
 
“Ian … is well placed to assume this role on a transitional basis, as we seek a permanent replacement under Iain Conn’s new leadership,” Centrica chairman Rick Haythornthwaite said in a statement.
 
The utility is in the process of reshuffling its management team which will be led by ex-BP man Iain Conn from the start of the new year as long-serving chief executive Sam Laidlaw is also leaving the company.
 
Conn will take over the company at a time when Centrica is under intense political and public pressure for rising energy bills and also faces a UK competition investigation.
 
He will have to find a permanent appointment to lead the British Gas and downstream businesses as well as a new financial director.
 
The role is currently filled on an interim basis by Jeff Bell, previously director of corporate finance, after the departure of Nick Luff to information group Reed Elsevier this summer.
 
Centrica’s current managing director of international downstream, Chris Weston, is leaving the company on Dec. 31 after 13 years to become chief executive at temporary power provider Aggreko on Jan. 2.
 
As a consequence of the reshuffle, the head of Centrica’s North American downstream business Direct Energy, Badar Khan, will report directly to the chief executive from Dec. 1. 
 
By Karolin Schaps (Editing by William Hardy and David Holmes)
 

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