CENTRICA Centrica Announces Changes to the Board

  • Jun 12, 2020
  • Electric Energy

As part of the wider Group restructuring announced today, Sarwjit Sambhi, Chief Executive, Centrica Consumer and Richard Hookway, Chief Executive, Centrica Business will step down from the Board today and will leave the Company by the end of July.

"Sarwjit has had a distinguished career over 19 years at Centrica, holding a number of senior leadership positions in strategy, finance, trading, power generation and exploration and production. As CEO of our Consumer businesses, Sarwjit has broadened our capabilities to enable the launch of innovative new products and services as we look to return to growth.

Under Richard's leadership we have increased our capabilities across a range of activities focused on delivering lower-carbon solutions for business customers, in particular in route to market services and distributed energy solutions.

I'd like to thank Sarwjit and Richard both for their service to Centrica and the support they have given me personally since being appointed Group CEO, and on behalf of everyone at Centrica, to wish them well in the future."

Centrica is also pleased to announce the appointment of Johnathan Ford as Group Chief Financial Officer with immediate effect. Johnathan will also join the Centrica Board.

Commenting on the appointment, Chris O'Shea said, "I am delighted that Johnathan is joining Centrica as Group CFO. He has a proven track record in driving growth and efficiency and has deep experience in Centrica's core in-home servicing business as well as experience of working in regulated industries. This is an important period as we continue to simplify our organisation and I am confident that Johnathan is the right addition to the executive team as we refocus the Company on the customer and create long term value by returning Centrica to growth."

Commenting on his appointment Johnathan Ford said, "I am excited to be joining Centrica at such an important stage of its transformation. I look forward to playing my part and supporting Chris and the Board as the Company continues to reinvent itself and build a great customer focused business."

Centrica plc is also pleased to announce the appointment of Carol Arrowsmith as a Non-Executive Director with immediate effect.

On appointment, Carol will also join the Audit Committee and Nominations Committee, and will become Chair of the Remuneration Committee, replacing Stephen Hester who will continue to be a member of the Remuneration Committee.

Commenting on the changes, Scott Wheway, Chairman of Centrica, said,

"I am delighted to welcome Johnathan and Carol to the Board as Group Chief Financial Officer and Non-Executive Director respectively. Johnathan brings deep and relevant experience and Carol brings extensive FTSE advisory experience, especially of advising boards on executive remuneration across a range of sectors and has a deep understanding of how the energy sector operates in a commercial setting.

I would also like to extend my thanks, on behalf of the Board, to both Sarwjit and Richard for their service to Centrica and to wish them every success in the future.

These appointments complete a significant refresh and re-sizing of the Board which will enable Centrica to focus on delivering competitively priced, high quality services and products for our customers."