14th Apr 2015 06:53
LONDON (Alliance News) - Centrica PLC Tuesday appointed insurance industry veteran Mark Hodges as the new managing director of its gas and electricity supply arm British Gas, a move that puts him firmly in the spotlight amid intense pressure and scrutiny on the UK's energy suppliers.
Hodges is an insurance industry veteran, having worked for more than 20 years at Norwich Union and Aviva PLC, which he quit in 2011 to run specialist insurance broker Towergate Partnership. He quit that firm last October. His last role at Aviva was head of the company's UK operations, and his departure for Towegate came as a surprise as he'd been touted as a potential successor as group chief executive.
Centrica defended its choice of going outside the industry for a new head of its British Gas arm.
"Mark brings a strong understanding of the UK consumer market and a track record in improving business performance. He is experienced in working in a regulated environment, driving significant improvements in customer service and efficiency, offer innovation, major IT and change projects," it said in a statement.
Ian Peters, who has been heading British Gas on an interim basis, will remain with Centrica and become head of customer facing strategy. He will continue to be on the Centrica Executive Committee until the end of 2015, supporting the company?s strategic review and its contribution to the Competition and Markets Authority energy market investigation.
That's a key job, as Centrica and its five major peers in the UK gas and electricity supply market face a deep regulatory review into the sector. The companies have faced calls for a breakup of energy supply and distribution arms, and are under intense political pressure ahead of May's UK General Election, with the opposition Labour party pledging a range of measures to ensure that the prices consumers are charged for their energy are capped and lowered.
By Steve McGrath; [email protected]; @stevemcgrath1
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