Centrica PLC (LON:CNA), the owner of British Gas, has announced that Rick Haythornthwaite will step down as its chairman within the next 12 months, after serving on the group's board for nearly six years.
The FTSE 100-listed firm said it will now commence a process to appoint a successor which will be overseen by the Nominations Committee and led by its senior independent director, Stephen Hester.
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Centrica noted that Haythornthwaite - who joined its board as a non-executive director in October 2013 and became chairman in January 2014 - will continue to serve as chairman until a successor is appointed and in place.
Haythornthwaite commented: “Chairing Centrica has been a real privilege, and the Group has made material progress against a challenging external environment, including significant fundamental changes in the energy landscape.”
In lunchtime trading, Centrica’s shares were down 0.6% to 153.65p.