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British Gas owner Centrica makes interim chief executive permanent boss

Chris O'Shea is replacing Iain Conn, who left the energy company last month

Centrica PLC - Centrica turns interim chief executive into permanent boss

Centrica PLC (LON:CNA), the owner of British Gas, said it has appointed interim chief executive Chris O'Shea to the job on a permanent basis.

O’Shea, who had been Centrica's chief financial officer since 2018, replaces Iain Conn, who left the energy company last month.

READ: British Gas owner Centrica weak as it cancels dividend as coronavirus pandemic hits gas demand

Conn’s departure was agreed last summer after a slump into deep losses and a dividend cut with the FTSE 100-listed company shedding two-thirds of its value under his leadership. 

In a statement, the company said O’Shea will be paid “in line with Centrica's current remuneration policy and practice”, with a base salary of £775,000.

The group noted that it is now looking for a new chief financial officer.

Shares dipped 1% to 35.25p on Tuesday morning.

--Adds shares--

Quick facts: Centrica PLC

Price: 41.18 GBX

Market: LSE
Market Cap: £2.41 billion

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