Centrica plc Strategy/Company/Operations Update
February 08 2017 - 9:00AM
UK Regulatory
TIDMCNA
8 February 2017
Centrica plc
('Centrica' or 'the Company')
Centrica organises its business units into global consumer and
business divisions
Centrica plc announces that it is accelerating an organisational
change to form global consumer and global business divisions,
further focusing itself around the residential consumer and
business customer. This follows an increasing focus on home and
business end-users in the last two years, and the recognition of
the similarity of customer trends in all countries in which it
operates.
This move also follows the departure of Badar Khan, Chief
Executive of Energy Supply & Services in North America in order
to take up a new role on the Group Executive Committee of National
Grid. He will leave the Group on 6 March 2017.
Mark Hodges will become Chief Executive, Centrica Consumer, with
responsibility for all B2C activities globally and Mark Hanafin
will take on the role of Chief Executive, Centrica Business, with
similar responsibility for all B2B activities.
Mark Hodges will continue to lead the UK Home, Ireland and
Connected Home businesses and will also assume responsibility for
North America Home. Manu Asthana, President, North America Home,
will now report into Mark.
Mark Hanafin will continue to lead Distributed Energy &
Power, Energy Marketing & Trading and Central Power Generation
and will also assume responsibility for UK Business and North
America Business. John Schultz, President North America Business
and Gab Barbaro, Managing Director UK Business, will both now
report into Mark Hanafin. John Schultz will also take on the role
of President, Centrica North America, ensuring that Centrica
remains coherent in the region. In this regard, John will also
report to Mark Hanafin.
Exploration & Production (E&P) will continue to be run
by Chris Cox, Managing Director E&P who will now report
directly to Iain Conn, Group Chief Executive.
These changes take effect from 6March 2017. Further details of
the Group's global consumer and global business strategies will be
outlined at our 2016 Preliminary Results on 23 February 2017.
Iain Conn, Group Chief Executive, said:
"The world of energy and services is changing rapidly, and
Centrica is responding to new global trends as we serve our
residential consumers and business customers. Centrica's strategy
is to focus on the changing needs of our customers - in the home
and business segments. This reorganisation enables a more coherent
strategy built around the end-customer and gives us the ability to
ensure capability is developed globally and efficiently in support
of that strategy. This builds on the achievements of the team over
the last two years, and I remain excited about our future
prospects.
Badar Khan has made an important contribution to Centrica over
14 years, leading a number of our businesses in the UK and North
America and we wish him well in his future endeavours. I am
particularly grateful for the significant contributions Badar made
during our recent strategic review and for the way in which he has
led our North American businesses."
Enquiries:
Centrica Investor Relations +44 (0) 1753 494900
Centrica Media Relations +44 (0) 1753 494105
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
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170208005671/en/
This information is provided by Business Wire
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February 08, 2017 10:00 ET (15:00 GMT)
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