Centrica’s finance chief steps down after seven months
Centrica’s (CNA) chief financial officer will leave the firm at the end of the month after just seven months in the role.
Johnathan Ford, who joined from Homeserve in June 2020, is stepping down for “personal reasons” and leaving Centrica on 31 January.
Group financial controller Kate Ringrose has been promoted and will be appointed the group’s new chief financial officer with immediate effect.
Ringrose has been with the firm for 16 years and held a variety of positions across the energy, services and trading businesses.
Chief executive Chris O’Shea said Ringrose is a “very capable internal successor… who brings a wealth of experience from a wide range of finance roles across Centrica.”
Ford has overseen a difficult period for Centrica which has faced pressure on its finances due to the pandemic. In the second half of the year the firm said business energy demand was down 15 per cent, compared to 30 per cent in the first half.
He joined Centrica as it announced a significant restructuring plan which included 5,000 redundancies as it streamlined its operations.
“I am disappointed I will not be able to see [the turnaround] through to its conclusion. However the company has made fundamental progress over the past year and I wish Chris, Kate and the Centrica team well for the future,” Ford said.