Centrica CFO steps down after 7 months

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The Centrica CFO has announced plans to step down by the end of the month.

After just seven months in the role, Johnathan Ford said he will be leaving the group on 31 January for “personal reasons”.

Kate Ringrose, the company’s financial controller, will replace Ford with immediate effect. Ringrose has been at Centrica for 16 years.

Ford said: “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.”

Chief executive Chris O’Shea commented on Ringrose’s new role: “I am very sorry to see Johnathan leave and would like to thank him for his contribution to the company and wish him and his family well for the future. We have a very capable internal successor in Kate, who brings a wealth of experience from a wide range of finance roles across Centrica. I look forward to working closely with Kate as we continue to focus on delivering the turnaround of Centrica”.

Ford joined the group in July 2020 from Homeserve where he was chief operating officer and CFO.

Centrica shares are trading 2.29% lower at 49,46 (0947GMT).