Centrica PLC Directorate Change (8540F)

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       [phone]    [e-mail] 
   Sophie Fitton               Media                           [phone]   [e-mail] 

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

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END

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October 31, 2018 06:00 ET (10:00 GMT)