She may be hamstrung by the usual legal restrictions – and her current commitments with retail giant Dixons Carphone until later this year – but this shrewd market operator will already have her top priorities worked out. Here are our thoughts on what they may be:
1. Heading that tough to-do list will be keeping a watchful eye on the progress of the merger – still awaiting Competition and Markets Authority approval. It’s not a foregone conclusion, despite last week’s bullish move by SSE and Innogy in announcing Bickerstaffe’s appointment. And the added complication of the recently revealed Eon and RWE asset-swap deal could lead to extra conditions for any merger agreement.
2. Company culture will also be high on the list. No stranger to mergers, Bickerstaffe won’t be underestimating the challenge of bringing together two companies and teams with very little in common. Strong IT systems and processes will be vital if she is to ensure the fledgling entity’s risk management and customer service codes are protected.
3. Job losses are inevitable when bringing together two businesses of this size, and Bickerstaffe will need to clear some space in her busy diary during the first few months for difficult talks with the unions.
4. Jostling for attention in Bickerstaffe’s in-tray will be board appointments and selecting her direct reports. There will also be synergies and duplication to work through – such as financial functions – staff to get to know and trust (or otherwise), and the inherent risk that your best people might choose to walk.
5. Last, but not least, will be finding the sector’s elusive Holy Grail – how to make money out of the energy market. Many will be watching closely how this customer-focused, FMCG and retail technology expert will move to find new, sustainable revenue streams quickly and efficiently in an increasingly volatile market of high wholesale costs, a looming energy price cap, diverse competition and ongoing political uncertainty. She’s already hinted that she plans to explore home services, where profit margins are higher and new business models have a fighting chance.
It’s going to be fascinating to watch.