Centrica Announces New Interim CEO, Announces New Chairman, Other Board Changes
March 17, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Centrica announced that Chris O'Shea, currently Group Chief Financial Officer (CFO), will become Interim Group Chief Executive (CEO) while the search for a permanent CEO continues.
As previously reported, Centrica announced last summer that Iain Conn, Group Chief Executive Officer, had agreed with the Board that he would step down as CEO and retire from the Board in 2020.
Iain Conn will step down as CEO and from the Board from today, March 17. Conn will remain available until the Annual General Meeting on 11 May 2020, as anticipated, to support the handover, but the day to day leadership of the company will pass to O'Shea, Centrica said.
Centrica also announced that its Chairman, Charles Berry, who has been on medical leave since the 12 February 2020, has tendered his resignation with immediate effect.
Berry's decision follows advice from doctors to reduce his workload, Centrica said
Centrica confirmed the appointment of Scott Wheway as its Chairman, effective immediately. Wheway has been a Non-Executive Director of Centrica since 2016 and acting Chairman since 12 February 2020
Scott Wheway said, "I'm acutely aware that I'm taking this role at a time when we need to navigate our way through the current volatility caused by the impact of Coronavirus. Protecting our employees and customers is a priority for us, particularly those who are vulnerable. As a business we remain focussed on structural simplification, improving our efficiency and delivering growth in our customer facing businesses."
"I will immediately be concentrating on completing the search for a CEO for Centrica, which includes both internal and external candidates. In the meantime, I have asked Chris O'Shea to take over as Interim CEO until that search is concluded. Chris is an experienced CFO with a strong track record of cost efficiency and financial discipline, and I will work closely with him during this period," Wheway said