Centrica PLC Directorate Change (8540F)
October 31 2018 - 6:00AM
UK Regulatory
TIDMCNA
RNS Number : 8540F
Centrica PLC
31 October 2018
Directorate change
31 October 2018
Centrica plc
("the Company")
Board Announcement
Centrica appoints a new Non-Executive Director and Chairman
Designate
Centrica announces the appointment of Charles Berry as a
Director and Chairman designate. Charles will join the Board of
Centrica on the 31(st) October 2018 as a Non-Executive Director and
will become Chairman on the 21(st) February 2019. Charles succeeds
Rick Haythornthwaite who announced in May 2018 his intention to
step down during the course of the next 12 months, after serving
approximately six years. Rick Haythornthwaite will step down on
20(th) February 2019.
Charles Berry is Chairman of The Weir Group PLC, the
international engineering group and has previously held Chairman
roles including Senior Plc, Drax Group plc, EAGA plc and Thus Group
plc. Previously Charles held executive roles at Scottish Power plc,
responsible for power generation, commodity trading, energy
retailing and renewable energy in the UK together with board
responsibility for energy regulation, and prior to that at
Pilkington plc where he held a number of roles and started his
career as an engineer.
Rick Haythornthwaite, Chairman of Centrica, said: "I am
delighted to welcome Charles to Centrica as my successor as
Chairman. Charles's breadth of international energy and engineering
knowledge and a long track record of successful leadership of
businesses across industrial, minerals, and retail sectors over the
last 20 years, stand him in an excellent position to succeed me and
lead the Centrica Board. Charles also has extensive experience in
both the UK and US of the regulatory framework of the energy and
service markets. I would like to thank Stephen Hester, our Senior
Independent Non-Executive Director, for his leadership of the
process to identify and appoint Charles to the role, and I wish
Charles and the entire Board every success."
Charles Berry said: "It is a privilege to join the Board of
Centrica and follow Rick as Chairman. I have admired Centrica for
many years and now look forward to working with the Board and
Executive team."
Iain Conn, Group Chief Executive of Centrica, added: "On behalf
of the executive team and all our employees I am also delighted to
welcome Charles to Centrica as Chairman of our Board. The markets
in which we operate have been very challenging in the last few
years, and we have worked hard to reposition and strengthen the
Group as the landscape for energy and services continues to change.
Charles brings extensive experience and leadership to the Board,
and the support and challenge necessary for us to be successful in
this next phase. I would also like to thank Rick for his
considerable leadership, guidance and support in what has been a
very important period for Centrica both strategically and
operationally."
The Board would like to express its appreciation and gratitude
for the leadership Rick has demonstrated in guiding Centrica
through a challenging and turbulent period as the energy markets
transition into a new regulatory environment and the organisation
adapts to the changing operating environment. As an industry leader
Rick has played a key role in contributing to Centrica's future and
we wish him every success going forward.
The Directors have determined that upon appointment Charles
Berry will be independent.
There is no other information required to be disclosed under
Listing Rule 9.6.13R.
ENDS
Enquiries:
Martyn Espley Investors/analysts +44(0)1753 494900 ir@centrica.com
Sophie Fitton Media +44 (0)1784 843000 media@centrica.com
Remuneration
The Group Remuneration Committee, comprised of independent
Non-Executive Directors, set the remuneration of Charles Berry at
an annual fee of GBP445,000, and in all other respects in line with
the Remuneration Policy approved by shareholders in May 2018.
Charles Berry will not be eligible to receive any pension or cash
in lieu of pension allowance or participate in any discretionary
compensation plans or long-term incentive plans.
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAMBBLTMBIJMPP
(END) Dow Jones Newswires
October 31, 2018 06:00 ET (10:00 GMT)
Centrica (LSE:CNA)
Historical Stock Chart
From Apr 2024 to May 2024
Centrica (LSE:CNA)
Historical Stock Chart
From May 2023 to May 2024