British Gas’ parent company Centrica has announced the chief executive of Centrica Consumer Mark Hodges will be leaving the company on 28 February next year.
Hodges, who has spent four years with the company, will take up a new role as chief executive with Swiss Re’s closed book business ReAssure.
ReAssure plans a stock market listing next year.
Sarwjit Sambhi, who joined Centrica in 2001, will take over as chief executive of Centrica Consumer and will join the board as an executive director from 1 March next year. He is currently managing director, UK Home.
Previous roles in the company include managing director for the Exploration and Production business at Centrica Energy, covering operations in the UK, Netherlands, Norway, Canada and Trinidad.
Centrica has also announced the departure of general counsel and company secretary, Grant Dawson, who will retire from the company on 31 March 2019.
In his place will be Justine Campbell, who joined from Vodafone in 2013, with effect from 1 April next year.
Speaking in response to the announcements, Iain Conn, group chief executive, said: “I would like to take this opportunity to thank both Mark Hodges and Grant Dawson for their significant contribution to Centrica over the past four years and twenty-two years respectively.
“Mark has been a powerful driver of change and performance within Centrica and has put the foundations in place for the consumer businesses.
“He has built a strong team and the consumer division is set up well to deliver against our strategy.
“Grant has been a member of the Centrica executive committee and attended the board since joining the company in 1996.
“He has seen the company through a number of price controls and regulatory uncertainty over the years and has also played a key role in all the major portfolio developments of the group.
“I am very grateful to both Mark and Grant and wish them both, and their families, all the very best for the future.
“I would like to congratulate Sarwjit and Justine on their new respective roles and know they will help to take the business through its next phase of transformation.”
On behalf of the Centrica board chairman Rick Haythornthwaite, said: “I would like to thank Mark and Grant for their commitment and contribution to the company and to the business of the board in a period in which we have shifted the strategy towards the customer against a challenging backdrop of volatile commodity prices, regulatory intervention and intense competition.
“I would also like to welcome Sarwjit to the board, and Justine to the position of general counsel and company secretary.”