Centrica PLC Directorate Change (9374L)
January 18 2021 - 1:00AM
UK Regulatory
TIDMCNA
RNS Number : 9374L
Centrica PLC
18 January 2021
18 January 2021
Centrica plc
('the Company')
Board Announcement
Centrica announces the appointment of a new Group Chief
Financial Officer
Centrica plc announces that, for personal reasons, Johnathan
Ford will step down today as Group Chief Financial Officer and from
the Board and will leave Centrica on 31 January 2021.
Kate Ringrose is appointed Group Chief Financial Officer with
immediate effect. Kate has been with Centrica for 16 years and has
most recently been Group Financial Controller, having previously
held a variety of roles across the energy, services and trading
businesses. Kate will also join the Centrica plc Board as an
Executive Director.
Chris O'Shea, Centrica Group Chief Executive, said:
"I am very sorry to see Johnathan leave and would like to thank
him for his contribution to the Company and wish him and his family
well for the future. However, I am delighted that we have a very
capable internal successor in Kate, who brings a wealth of
experience from a wide range of finance roles across Centrica. I
look forward to working closely with Kate as we continue to focus
on delivering the turnaround of Centrica".
Johnathan Ford, outgoing Group Chief Financial Officer,
said:
"I am pleased to have been involved in the initial stages of the
turnaround of Centrica and I am disappointed I will not be able to
see it through to its conclusion. However, the Company has made
fundamental progress over the past year and I wish Chris, Kate and
the rest of the Centrica team well for the future."
Kate Ringrose, incoming Group Chief Financial Officer, said:
"I am honoured to have been appointed as Centrica Group Chief
Financial Officer. While there remains a lot to achieve to complete
the turnaround of the Company, I have seen first-hand that we have
the people, capabilities and market positions to do so. I look
forward to working with Chris, the Board and colleagues across the
Group and playing my part in the turnaround of Centrica."
ENDS
Enquiries:
Investors/analysts 01753 494900 ir@centrica.com
Media 01784 843000 media@centrica.com
Notes:
Kate Ringrose joined Centrica in 2005. Her most recent role has
been Group Financial Controller, and she has also held a wide
variety of positions across the Group, including in Centrica's
energy supply, services, solutions and trading businesses, and in
finance operations. Prior to joining Centrica, Kate qualified as a
chartered accountant with KPMG South Africa, before relocating to
the UK with KPMG.
There are no additional details to be disclosed under Listing
Rule 9.6.13 R.
Remuneration:
Johnathan Ford resigned from his role and Centrica waived its
right to contractual notice. Therefore, all remuneration
entitlement ceases on his leaving date, 31 January 2021, with n o
further payments due to be made to Johnathan Ford after this
date.
Kate Ringrose's remuneration package will consist of a basic
salary, benefits and variable incentive arrangements which are in
line with Centrica's remuneration policy. The key elements of Kate
Ringrose's remuneration package are as follows:
-- Base salary of GBP450,000
-- Pension contribution of 10% of base salary
Incentives and other benefits will be in accordance with the
remuneration policy set out in the Group's 2017 Annual Report and
Accounts and approved by shareholders at the 2018 AGM. The annual
bonus maximum award will be 150% of salary and the usual annual
LTIP grant will be 175% of base salary.
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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