Extra Energy has appointed Nick Read, the former boss of convenience retailer Nisa as its group chief executive officer, effective from Monday 9 April.
He will be responsible for the full group across the UK, Germany and Cyprus and will replace the company’s founder Moti Ben-Moshe, who will take up the new role of executive chairman.
Read led Nisa into takeover talks with the Co-op and helped grow the company’s revenues to £1.5 billion, before he departed last year.
With 25 years of consumer and commercial experience, Read has held several senior positions including group customer director at Thomas Cook; UK commercial operations director at Vodafone; group customer experience director at Lloyds Banking Group and customer service director at Tesco.
Extra Energy said Read’s experience “leaves him ideally placed” to transform the group’s operations and put consumers at the heart of the company.
Read, CEO designate of Extra Energy, said: “Extra Energy is well positioned to play a significant role in the energy market. I will ensure customers are at the heart of our offer and that we strive to constantly measure and improve the customer experience.
“We need to work with all our stakeholders as we seek to address the challenges facing Extra Energy and the wider industry. I am confident that we can play a major role in our sector as we seek to grow the business for the benefit of all stakeholders.”
Ben-Moshe, chairman of Extra Energy, said: “Nick’s appointment as group CEO marks a step change for Extra Energy. His track record in enhancing customer experience, driving consistency and delivering significant change at large, regulated organisations will enable the group to realise its true potential.
“I have great trust in Nick and believe he will successfully lead Extra Energy through the next stage of its corporate journey.”
The charity said the results raised “serious questions” about some suppliers and is further evidence why Ofgem needs to “get tougher on licensing”.