Centrica has announced that its group chief financial officer Johnathon Ford is to step down for personal reasons.
He will be replaced with immediate effect by current group financial controller Kate Ringrose but will officially leave the business on 31 January.
Ford joined Centrica from Homeserve last June, replacing Chris O’Shea after he was promoted to chief executive.
Ringrose has spent 16 years with Centrica, holding a variety of roles across the energy, services and trading businesses.
O’Shea 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.”
Ford 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.”
Ringrose 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.”
The reshuffle of the board comes as Centrica faces a fresh wave of strikes from GMB workers from Wednesday (20 January). The union had already said c7,000 workers would down tools on 22, 25 and 29 January and 1 February and has now added 30 and 31 January – making seven days of industrial action.
Cadent
In other appointments news, a former Centrica director has joined Cadent to work on its decarbonisation strategy.
David Watson was director, group strategy of the British Gas owner between April 2016 and May 2020 before joining the Heat Trust as managing director.
His new role at Cadent will be as head of energy transition.
The Heat Trust will now look to appoint a new managing director.