9th Apr 2025 09:44
(Alliance News) - DCC PLC on Wednesday said it will promote the chief financial officer of DCC Energy to group CFO, as a result of the firm focusing more on that Energy division.
Dublin-based DCC provides sales, marketing and support services.
DCC Energy CFO Conor Murphy, who has been with DCC since 1998, will become group CFO following the annual general meeting on July 10. At the same time, current CFO Kevin Lucey will move to chief operating offer, having been CFO since 2020.
The chief executive officer of DCC Energy, Fabian Ziegler, will leave DCC in July. The company did not say who would be replacing Ziegler.
DCC said the leadership change is to align further with the company's focus on the energy sector, which was first announced back in November. DCC Energy contributes 74% of operating profit, offering the strongest growth potential and highest returns amongst its three divisions, the company explained at the time.
DCC said in November it will sell its DCC Healthcare division, with the disposal expected to be completed during 2025. The company also will review options for its third division, DCC Technology, within the next two years.
DCC said it will return cash from business disposals to shareholders.
DCC CEO Donal Murphy said on Wednesday: "Our new leadership team has extensive experience in the energy sector and the commercial agility and drive to build DCC into a global energy leader. We will also drive the growth and development of the Healthcare and Technology divisions while they remain part of the group."
DCC shares were down 3.1% to 4,566.00 pence in London on Wednesday morning. The wider FTSE 100 index was down 2.7%.
By Olivia Mason-Myhill, Alliance News reporter
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