Phil Cox to give Drax a boost

Gabriella Griffith
EMBATTLED energy group Drax has reached for a boost from former International Power chief Phil Cox, taking him on as chairman as its share price continues to dwindle.

The power station firm took a hit during the summer, being excluded from applying for a subsidy scheme aimed at low-carbon energy projects and its share price has dropped 40 per cent this year.

Cox succeeds Charles Berry and will take up his position from 1 January.

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