SSE PLC Appointment of Retail Chief Executive Designate (0934K)
April 06 2018 - 3:10AM
UK Regulatory
TIDMSSE
RNS Number : 0934K
SSE PLC
06 April 2018
APPOINTMENT OF RETAIL CHIEF EXECUTIVE DESIGNATE
6 April 2018
SSE plc (SSE) and innogy SE (innogy) have appointed Katie
Bickerstaffe as Chief Executive Designate of the new independent
British energy supply and services company that they have agreed to
form subject to necessary shareholder and regulatory approvals. She
is the first appointment to the Board of the new company, following
a competitive process that was facilitated by an executive search
company.
Katie will take up her new appointment later this year and will
lead the work being done to prepare for the formation and listing
of the new company, expected to take place in the last quarter of
2018 or the first quarter of 2019. Her role during that period will
not include any involvement in the leadership or management of
either existing organisation.
She has been an Executive Director of Dixons Carphone plc since
it was formed in 2014 and has been Chief Executive, UK and Ireland
for the business since 2015, having joined Dixons in 2008 and been
a member of its Board since 2012. She has other substantive and
diverse retail experience gained with Kwik Save, Somerfield, Dyson,
PepsiCo and Unilever.
Katie will step down from her position as a Non-Executive
Director of SSE plc with effect from 30 April 2018.
Alistair Phillips-Davies, Chief Executive of SSE plc, said:
"Katie has excellent credentials in retail, extensive experience
of organisational change and recent insight derived from merging
two companies into one. She will therefore bring to the role of
Chief Executive a strong customer focus and enormous capacity to
unlock the great potential that exists in combining the experience
and insight of two established players with the focus and agility
of a new, independent company. Having served on the Board of SSE
she also has excellent insight into the challenges and
opportunities of the retail energy market in Great Britain. Her
appointment is another important milestone and reinforces the
commitment from both SSE and innogy to completing the transaction
and setting the new company up for success."
Martin Hermann, Chief Operating Officer Retail, innogy,
said:
"We are right on schedule with our preparations for the new
combined retail company. And our decision as to who will take up
the CEO position is a really positive sign of the progress we are
making. Katie has outstanding experience in retail and she knows
the particular challenges the British energy business presents. She
knows how to lead a truly customer-focused company that satisfies
customers, employees and shareholders. These are the most vital
elements needed to make a long-term success of the new company we
plan to set up."
Katie Bickerstaffe said:
"I'm delighted to have the opportunity to lead this new energy
supply and services company at a time when the sector is undergoing
an exciting transformation. There is a great opportunity to create
a more agile, innovative and efficient company that really delivers
for customers. Over the coming months, I want to listen to as many
customers, employees and other stakeholders as possible to make
sure this new company has the values, strategy and focus that
customers need now and in the future. As we plan the new company,
every decision we make must be about doing the right thing for all
our stakeholders."
The combined retail company will be listed on the premium
segment of the London Stock Exchange. It will not be controlled by
either innogy or SSE: innogy will hold a minority stake of 34.4 per
cent in the combined retail company. SSE will demerge its stake of
65.6 per cent to its shareholders upon completion of the
transaction. The transaction is still subject to the approval of
SSE's shareholders, as well as approval by the relevant
authorities. Completion of the transaction and the listing of the
new retail energy company are expected to occur in the last quarter
of 2018 or the first quarter of 2019.
ENDS
Enquiries to SSE:
ir@sse.com +44 (0)345 0760 530
media@sse.com +44 (0)345 0760 530
Enquiries to innogy:
Vera Bücker
Group Media Relations
+49 201 1215140
vera.buecker@innogy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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