Hodges has spent more than 20 years in the UK insurance industry, with Norwich Union and Aviva, but brings “a strong understanding of the UK consumer market and a track record in improving business performance”.
“He is experienced in working in a regulated environment, driving significant improvements in customer service and efficiency, offer innovation, major IT and change projects,” Centrica added.
Hodges was most recently group chief executive of specialist insurance broker Towergate Partnership.
In his new role Hodges will be paid a base salary of £625,000 per year with a potential 100 per cent annual bonus for achieving targets and a maximum 200 per cent bonus for exceeding these targets.
Hodges will replace interim managing director Ian Peters who will remain with the company in the role of director of customer facing strategy to steer the supplier through the ongoing Competition and Market Authority investigation into the energy sector, Centrica said.