Ian McCaig, chief executive of First Utility, is stepping down for "personal reasons"

 
Courtney Goldsmith
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First Utility is Britain's largest independent energy provider (Source: Getty)

The boss of the UK's largest energy challenger, First Utility, is leaving the business after six years.

Chief executive Ian McCaig will depart 30 September due to personal reasons, and the company has now started the search for a replacement.

McCaig said: “It has been an enormous privilege to lead this dynamic organisation over the last few years. First Utility is a brand that promises and delivers something different to any other.

"For personal reasons however, I have decided the time has come for me to hand the baton to those leading First Utility through its next chapter as a diversified multi-utility challenger. I do so confident in the knowledge that the business is in good shape, with a very exciting future ahead."

First Utility chairman Thomas Chambers said: "I want to thank Ian for his exemplary leadership and for the remarkable progress we have seen at First Utility. We have now begun the search for a suitable successor to lead the next phase of the company’s development."

This follows a board shake-up in 2016 in which former chairman John Roberts was replaced by Chambers, a seasoned technology investor, as the company moved towards expansion rather than a floatation.

In March, the company announced it would take on the broadband Big Four with new internet services, the first step in a diversification plan. Last month, the utility firm progressed the plans further by launching a new home services branch.

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