Centrica plc announces that Russell O'Brien will be appointed Group Chief Financial Officer (CFO) and an Executive Director on 1 March 2023. Kate Ringrose will step down as CFO and an Executive Director on 28 February 2023 and is expected to leave Centrica towards the end of 2023 after an orderly transition.
Chris O'Shea, Centrica Group Chief Executive, said:
"I want to pay tribute to Kate's achievements during almost 20 years at Centrica and to thank her for the unstinting support she's given me during my time as both CFO and CEO. Kate has made a significant contribution to the company and helped steer us through a challenging external landscape. Kate leaves with our very best wishes for the future.
Centrica has made significant progress over the last three years and is now more efficient and competitive. We have a focussed portfolio of complementary businesses with a transformed balance sheet, and we are now well placed to drive growth across the portfolio and deliver improved shareholder returns.
I'm delighted that we have been able to secure someone of Russell's calibre to be our new CFO. In his long-standing role as Group Treasurer at Shell, Russell was instrumental in delivering shareholder value and setting a clear financial framework for investors. Russell's broad experience across the energy value chain, including roles as global CFO for both Shell's Integrated Gas and Retail businesses, will be a huge asset to Centrica as we look to accelerate the creation of shareholder value whilst helping decarbonise the energy system."
Kate Ringrose, outgoing Group Chief Financial Officer, said:
"It has been an absolute privilege to be part of the team delivering the turnaround of Centrica. I have enjoyed my time with the company immensely but after almost 20 years it is now time for a new challenge. I have every confidence that the company is on the right track and I'd like to wish Chris, Russell and the rest of the Centrica team all the very best for the future."
Russell O'Brien, incoming Group Chief Financial Officer, said:
"I am honoured to have been appointed as Centrica CFO. The energy transition is happening now, and I'm excited by the opportunities which we have. I am looking forward to working with our 20,000 colleagues, the leadership team and the Board and to being a part of shaping the future for the Company."
