CEO resigns from Centrica

British utility Centrica will be searching for a new group CEO. The current one will remain for a time, however, to lead the company through the freshly announced plan to withdrawal from oil and gas.
Photo: PR Centrica
Photo: PR Centrica

It is safe to say that British utility Centrica chose to mix things up today.

First, the company reported an adverse H1, then came its exit from oil and gas, and now its group chief executive resigns.

Thus, Centrica announces that its board of directors have agreed with Group CEO Iain Conn that he resign from this position and from the board as of next year.

Conn will remain in the position a bit longer to help ensure that the company's portfolio restructuring proceeds as planned. The board thus expects Conn to remain group CEO until the 2020 annual general meeting.

"Iain has led the strategic repositioning of Centrica since 2015 and has been the driving force behind our plan to turn Centrica into a sustainable business that is built around delivering clean, affordable energy and high-quality services and solutions for our customers, and to respond to the significant global challenge of moving to a lower carbon energy future," states Chairman Charles Berry in a press release.

The release states that Conn has agreed with the board to help find a competent replacement before he leaves, in addition to focusing on the company's transformation.

English Edit: Jonas Sahl Jørgensen

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