Drax Group PLC Directorate Change (3929R)
September 21 2017 - 1:01AM
UK Regulatory
TIDMDRX
RNS Number : 3929R
Drax Group PLC
21 September 2017
21 September 2017
DRAX GROUP PLC
(Symbol: DRX)
Will Gardiner to succeed Dorothy Thompson as Chief Executive of
Drax Group
Drax Group plc announces that Will Gardiner, currently Group
Chief Financial Officer, is to be appointed as Group Chief
Executive with effect from 1 January 2018. The appointment results
from Dorothy Thompson's decision to step down after 12 successful
years as Group Chief Executive. Dorothy will leave the Group at the
end of 2017.
Will joined Drax as Group Chief Financial Officer and a member
of the Group Board in November 2015. The Board has kept succession
planning well under review and his new appointment comes after a
thorough selection process involving internal and external
candidates.
Drax Chairman, Philip Cox said: "We are delighted Will is to
become Chief Executive. He has been a key architect of our new
strategy and is a focused, innovative and engaging leader. His
appointment is a natural progression after two years working
alongside Dorothy developing an ambitious strategy which I am
confident will create significant benefits for all Drax's
stakeholders.
"On behalf of the Board I would like to thank Dorothy for her
enormous contribution to Drax. She transformed the business during
her tenure and leaves the Group in a strong position with a clear
strategy that lays the foundations for further success in a
changing energy sector."
Will Gardiner said: "I am thrilled to be appointed as Group
Chief Executive at this exciting time for Drax. The changes we are
seeing in the UK energy sector are unprecedented and we have an
opportunity to thrive while doing the right thing for the UK energy
market. Drax's people have demonstrated repeatedly their ability to
deliver transformational change and I'm delighted to be working
with them to build on Dorothy's strong legacy."
Dorothy Thompson said: "Drax Group plays a strategic role in the
UK electricity sector generating around 16% of UK renewable
electricity, is a world leader in the production of wood pellets
and is a leading challenger brand in the supply of electricity to
businesses. I retire knowing the Group is in excellent shape: it
has the right strategy, the right team and in Will, the right
leader."
The Board will now commence a process to appoint a new Group
Chief Financial Officer and will also review the option to make an
appointment on an interim basis.
No other disclosure obligations arise under paragraphs (1) to
(6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in
respect of Will Gardiner's appointment as Chief Executive of Drax
Group plc.
Enquiries:
Drax Investor Relations:
Mark Strafford
+44 (0) 1757 612 491
+44 (0) 7730 763 949
Media:
Drax External Communications:
Matt Willey
+44 (0) 1757 612 285
+44 (0) 7711 376 087
Website: www.drax.com
Notes:
Will Gardiner joined Drax in November 2015 as Group Chief
Financial Officer and a member of the Group Board. He is currently
responsible for Finance, Strategy, and IT Systems.
Prior to joining Drax Will was Chief Financial Officer of CSR
plc, a global semiconductor business. He had previously been a
Divisional Finance Director of BSKYB and Chief Financial Officer of
Easynet Group plc.
At both CSR and Easynet Will's focus was on driving
transformational change to take advantage of new market
opportunities. He is also a non-executive member on the Board of
Qardio plc, a wireless medical devices company. Will is also a
Trustee of the Institute for War & Peace Reporting, a
London-based charity that supports local journalists and civic
activists in areas of crisis and change around the world.
Will graduated from Harvard University with a BA Magna Cum Laude
in Russian and Soviet Studies and from Johns Hopkins University
with an MA in International Relations. He spent the early part of
his career in corporate finance with Citibank and JP Morgan.
END
This announcement contains inside information
This information is provided by RNS
The company news service from the London Stock Exchange
END
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