Centrica, which owns British Gas, has promoted finance director Chris O’Shea to CEO, says Camilla Canocchi on This Is Money. O’Shea has replaced Iain Conn, who was criticised for a tenure that saw “the exodus of three million customers” as Centrica struggled with the advance of smaller competitors such as Ovo Energy, Bulb and Octopus.
Falling energy prices, along with a government-imposed cap on energy bills, have also led to a series of profit warnings, culminating in total losses of £1.1bn in 2019.
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