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Centrica creates new global consumer division in strategy overhaul
February 8, 2017 / 4:41 PM / 10 months ago

Centrica creates new global consumer division in strategy overhaul

LONDON (Reuters) - Britain’s Centrica (CNA.L) has created a new global division to focus on end-consumers in a strategy shift away from its core energy production business that will also merge its British and North American segments, the company said on Wednesday.

The division, Centrica Consumer, will be led by Mark Hodges, currently Centrica’s chief executive of energy supply and services in the UK and Ireland, including the utility’s British Gas energy supplier brand.

Hodges will also assume responsibility for Centrica’s North America Home division following the departure of Badar Khan, Centrica’s head of energy supply and services in North America. Khan is taking up a role on National Grid’s executive committee, Centrica said.

The utility is in the middle of a strategic turnaround spearheaded by former BP executive Iain Conn who is shifting the company away from energy production to supplying services to end-consumers.

“This reorganization enables a more coherent strategy built around the end-customer and gives us the ability to ensure capability is developed globally and efficiently in support of that strategy,” Conn said in a statement.

Centrica’s head of energy generation and trading, Mark Hanafin, will take charge of a second new division, called Centrica Business, which will also include the North American business segment, the company said.

Reporting by Karolin Schaps, editing by David Evans

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