Centrica Board Chairman To Step Down

Centrica plc announced in advance of its annual general meeting next week that its Chairman, Rick Haythornthwaite, has informed the Board of his intention to step down as Chairman within the next 12 months, as he will have served on the Board for nearly 6 years at that time.

This will enable an orderly handover to a successor in due course, Centrica said

The Centrica Board will now commence a process to appoint a successor. The process will be overseen by the Nominations Committee and led by the Senior Independent Director, Stephen Hester.

Haythornthwaite joined the Board as a non-executive director in October 2013 and became Chairman in January 2014. He will continue to serve as Chairman until a successor is appointed and in place.

Haythornthwaite said, "Over this period the Board has overseen the appointment of Iain Conn as Group Chief Executive, the development and execution of a new strategy focused on the customer, and with it significant changes to Centrica’s portfolio and capabilities. The first phase of strategic implementation has been completed, the Board has been refreshed and the balance sheet materially strengthened. I am immensely grateful to my fellow Board members for their support and hard work during my tenure as Chairman and I look forward in time to an orderly handover to my successor."