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Share Name Share Symbol Market Type Share ISIN Share Description
Centrica Plc LSE:CNA London Ordinary Share GB00B033F229 ORD 6 14/81P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.69 -1.76% 38.57 38.53 38.60 39.69 37.51 39.41 15,650,860 12:52:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 22,674.0 -1,104.0 -17.8 - 2,249

Centrica PLC Directorate Change

17/03/2020 7:00am

UK Regulatory (RNS & others)


Centrica (LSE:CNA)
Historical Stock Chart


From Feb 2020 to May 2020

Click Here for more Centrica Charts.

TIDMCNA

RNS Number : 4192G

Centrica PLC

17 March 2020

   17   M arc h  202 0 

Ce n trica plc ('the C o m p a n y')

Boa rd c ha n g es

   --    Cha r l es Be rry  to s t ep do wn as C en tr i ca Cha i r m an 
   --    Sco t t  W he w ay  c o n f i r m ed as  C ha r l es '  su c ce s sor 
   --    Ch r is O' Shea  a p po i n t e d  I n t e r im Gr o up Ch i ef  E x ecu t i ve 
   --    I a i n Conn  to s t ep d o wn as CEO  a nd fr om  t he Boa rd 

Cen tr i ca p lc ("Cen t r i ca ") annou n c es t hat i ts Cha i r m a n, Cha r l es Be rry, w ho has b e en on med i cal l eave s i nce t he 12 F e b r ua ry 20 20, has t en d e r ed h is r es i gna t i on wi th i mme d i a te e ff ec t . Cha r l es' dec i s i on f o l l o ws a d v i ce fr om d oc t o r s to r ed u ce h is w o r k l oad.

T h e Co m p any t he r e f o re c on f i r ms t he a p p o i n t m ent of S c o tt W he w ay as i ts Cha i r m an, e ff ec t i ve imm e d i a t e l y. Sco tt has b e en a N o n - E x e c u t i ve Di r ec t or of Cen tr i ca s i nce 2016 a nd ac t i ng Cha i r m an s i nce 12 Feb r u a ry 2020, and is a w e l l - qua li f i ed suc c e s sor to Ch a r l es, wi th de ep k n o w l edge of t he C ompan y, s tr ong p lc Boa rd e x pe r i ence a nd i n - dep th c us t omer f ac i ng ped i g r ee.

Cha r l es Be rry sa i d: " It has be en a g r eat h on o ur to Cha ir Cen t r i ca, but w hen t he d o ct or t e l ls y o u to r edu ce y our w o r k l o a d, y ou a re wi se to l i s t en. I wi sh e v e ry o ne at Cen tr i ca g r eat su c c e ss in t he f u t u r e ."

T h e Boa rd w ou ld l i ke to t hank Cha r l es f or h is se r v i ce to Ce n tr i ca. We wi sh h im a swi ft and f u ll r ec o v e ry fr om h is r ec e nt ill hea l th and g r ea t ly app r ec i a te h is con t r i bu t i on to t he c o mpan y 's r e p os i t i o n i ng du r i ng h is t enu r e.

Cen tr i ca a l so ann o u n c es t hat Ch r is O' Shea, cu rr en t ly Gr oup Ch i ef F i nanc i al Of f i c er (CFO), will bec ome I n t e r im Gr oup C h i ef E x ecu t i ve (CEO) w h i le t he sea rch f or a pe r m a nent CEO con t i nu e s. I a in C onn will s t ep do wn as C EO and fr om t he Boa rd from today. He will r e m a in a v a il a b le un t il t he Ann u al Gene r al M ee t i ng on 11 M ay 20 2 0, as a n t i c i pa t ed, to su pp o rt t he ha n d o ver but t he d ay to day l eade r sh ip of t he C o m p any will pass to Ch r i s.

Sco t t W he w ay sa id "I ' m acu t e ly a w a re t hat I 'm t ak i ng t h is r o le at a t i me w hen we need to n a v i ga t e o ur w ay t h r ough t he cu rr ent vo l a t il i ty caus ed by t he i m p a ct of Co r on a v i r u s. Protecting our employees and customers is a priority for us, particularly those who are vulnerable. As a bus i ne ss we r ema in f ocu s s ed on s tr u c t u r al s i m p l i f i ca t i on, i m p r o v i ng o ur e ff i c i ency and de l i v e r i ng g r o w th in our cus t o m er f ac i ng b us i ne s ses.

"I will i mm e d i a t e ly be con c en t r a t i ng on c omp l e t i ng t he sea r ch f or a CEO f or Cen t r i ca, w h i ch i n c l udes b o th i n t e r nal and e xt e r nal ca n d i da t es . In t he m e an t i m e, I h a ve a s k ed Ch r is O' Shea to t a ke o ver as I n t e r im C EO u n t i l t hat sea rch is conc l ud e d. Ch r is is an e x p e r i enc ed CFO w i th a s tr ong tr ack r eco rd of cost e ff i c i ency and f i nanc i al d i s c i p l i n e, and I will w o rk c l ose ly wi th h im du r i ng t h is pe r i od.

" On be h a lf of t he Boa r d, I w ou ld l i ke to t h ank I a in f or h is con t i nued c omm i tment a nd r es il i enc e in t he f ace of unp r ec e d e n t ed c h a l l enges d u r i ng h is t enu re as CEO. I a in has l ed t he r ep o s i t i on i ng of t he comp a ny ba ck t o w a r ds t he c u s t o m er a nd t o w a r ds a l o w er c a r b on f u t u re and h as d e l i v e r ed s i gn i f i cant po rtf o l io s i m p l i f i ca t i on, debt r ed u c t i on and c ost e f f i c i enc y. T h e Boa rd w i shes I a in w e ll and t hanks h im f or h is con tr i bu t i on ."

T h e i n f o r m a t i on c omm u n i ca t ed in t h is an n ou n c ement is i ns i de i n f o r m a t i on.

ENDS

En q u i r i es :

I n v e s t o r s / a n a l y s t s 01753 4 9 49 00 i r @ cen t r i ca . c o m

M ed i a 01784 84 3 0 00 m ed i a @ cen tr i ca . c o m

No t es

Following his appointment as Chairman, Scott Wheway has stepped down and Stephen Hester will replace him as Chair of the Centrica Remuneration Committee with immediate effect.

Scott W he w ay is cu rr en t ly Sen i or I nde p e n dent Di r ec t or and R es p o n s i b le Bank i ng Comm i tt ee Cha ir at San t an d er UK. He w ill r e l i nqu i sh h is c omm i tt ee cha ir r espons i b il i t i es i mme d i a t e ly and e x it h is pos i t i on at San t a n der UK f o l l owi ng t he c o m p l e t i on of t he p r oc e ss to s e l ect a new cha i r. It is an t i c i pa t ed t hat t h is shou ld ha p pen by t he e nd of t he s umme r.

Sco t t will r e t a in h is cu rr ent pos i t i on as Ch a irman of A XA UK p l c.

Re m une r a ti on

Sco t t W he w ay will r ece i ve an a n n u al f ee of GBP410 , 000. S co tt will not be e l i g i b le to r ece i ve any pe n s i on or ca sh in l i eu of pens i on a l l o w ance or pa rt i c i pa te in any d i sc r e t i ona ry compe n sa t i on p l ans or l on g -t e rm i ncen t i ve p l ans.

A s a n n o u n ced on 30 Ju ly 2019, I a in Conn will be tr ea t ed in acco r d a n ce wi th Cen tr i c a 's app r o v e d r e m u n e r a t i on po l i cy and h is s e r v i ce c on tr a ct f or t he r e m a i n i ng t e rm of h is e m p l o y m e n t. Fu ll de t a i ls of r e m u ne r a t i on pa y ab le to I a in Conn h a ve b e en d i sc l os ed on t he Cen tr i ca w ebs i te in comp l i ance w i th Sec t i on 4 3 0 ( 2B) of t he Comp a n i es Act 2 0 06 a nd w ill be d i sc l osed in t he Co m p a ny's A n n ual Repo rt a nd A c co u n ts f or t he y ear e n d i ng 31 De c e m b er 20 2 0.

Ch r is O' Shea w ill r ece i ve a sa l a ry supp l ement of GBP 1 00 , 0 0 0, p r o -r a t ed , w h i le he is I n t e r im CEO.

Ce ntr ica p lc is lis t ed on t he L o n don Stock E x c h a nge (CN A) Regis t e r ed O ff ice: Mills t r ea m, M a i de n h e ad Ro a d, W i n d s o r, B e r ksh i re SL4 5GD

Regis t e r ed in E n g l a nd & W a l es n u m be r: 3 0 3 3654 Leg al E n t i ty I de n t i f i er n u m be r: E26 EDV 109 X 6 EEPBKVH76

I S I N n u m b e r: GB00 B 03 3 F 2 29

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

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March 17, 2020 03:00 ET (07:00 GMT)

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