Centrica Names New Chief Executive

Centrica plc announced the appointment of Iain Conn as Chief Executive with effect from 1 January 2015, at which point he ill join the Centrica Board. Iain will succeed Sam Laidlaw who will retire from the Board on 31 December 2014.

Iain will join from BP plc where he has been Chief Executive, Downstream, BP’s refining and marketing division, for the past seven years. In this role he is responsible for running BP’s customer-facing activities in the fuels, lubricants and petrochemicals sectors. This involves all manufacturing, supply, optimisation and marketing activities in support of both business and retail customers and includes shaping one of the world’s leading retail businesses, with 18,000 service stations in 70 countries, serving an estimated 12 million customers every day.

Iain has been a Board member of BP since 2004 and has previously held a number of senior roles throughout the business including in trading, exploration and production, and management of corporate functions such as safety and human resources.

Rick Haythornthwaite, Chairman of Centrica said:

“Iain will bring an impressive combination of experience to our business. He heads a global consumer brand familiar to millions of people and he also possesses a deep understanding of the energy sector built up over a lifetime in the industry. His breadth of knowledge and commitment to customers and safety make him ideally suited to lead Centrica in the next phase of its development.”

Iain Conn, Chief Executive Designate of Centrica said:

“I am excited to be joining Centrica, a company which is leading the way in the provision of secure and reliable energy and services to customers in the UK and North America. Centrica also has a major responsibility for long-term energy supplies, particularly for the UK. I recognise the challenges which we face in rebuilding customer trust in the sector and helping to create an effective and sustainable approach to energy markets. I look forward to playing my part, along with all of Centrica’s people, in striving to achieve these goals.”

Upon appointment, Iain will also become Chairman of the Executive and Disclosure Committees and a member of the Corporate Responsibility Committee.