Centrica is pleased to announce the appointment of Jeff Bell as Chief Financial Officer (‘CFO’) with effect from 1 August 2015, at which time he will also join Centrica plc’s Board.
Jeff was appointed interim CFO on 1 September last year following the departure of Nick Luff.
Jeff brings extensive experience in driving financial performance and has a strong track record in developing and leading finance teams both in the UK and in North America.
Iain Conn, Chief Executive of Centrica said:
“I am delighted to confirm today that we are appointing Jeff as CFO. Since I joined the Company in January this year, I have been very impressed by Jeff’s capability. His leadership of the finance function and his considerable expertise has been instrumental in implementing the improved financial resilience of the Company since the beginning of the year.
He has played a critical role in the Strategic Review process and has been a tremendous support to me personally. Jeff’s skills will be extremely valuable in enabling the next exciting phase of Centrica.”
Rick Haythornthwaite, Chairman of Centrica, added:
“I am very pleased to welcome Jeff to the Board and for him to play a key role in the new leadership team as it implements the strategy.”
There is no information required to be disclosed under Listing Rule 9.6.13R in respect of Jeff Bell’s appointment. Jeff has an interest in 84,204 ordinary shares of Centrica plc.
Centrica Investor Relations Martin Espley +44 (0) 1753 494 900
Centrica Media Relations Sophie Fitton 0800 107 7014
Jeff Bell joined the Group's Direct Energy business in Toronto in 2002 as Vice President of Financial Strategy. He then held various senior finance positions in Direct Energy, including VP Finance for Direct Energy Business and VP for Corporate Finance. In 2008, Jeff moved to the UK to work as Executive Assistant to the Group Chief Executive and Head of Group Strategy. Since 2010, he was Centrica’s Group Financial Controller and Director of Corporate Finance before being appointed Interim Chief Financial Officer on 1 September 2014. Prior to Centrica, Jeff worked in Toronto both for KPMG where he qualified as a chartered accountant and as a management consultant for Boston Consulting Group.
Jeff Bell’s remuneration package will consist of a base salary and variable incentive arrangements which are in line with Centrica’s Remuneration Policy set out in the Company’s 2014 Annual Report and as approved by shareholders at the Company’s 2015 Annual General Meeting (‘AGM’). Jeff’s base salary will be £550,000.