Boss of British Gas owner Centrica to step down next year and divi is slashed by 60%

  • Summary:


    Iain Conn, the chief executive of of British Gas owner Centrica, is stepping down next year after four years at the helm, the company revealed today.

    The energy giant also slashed the interim dividend by more than half, blaming the energy cap and increased pension contributions, and announced its intention to fully exit oil and gas production.

    Conn‘s resignation follows a few difficult years as the company has seen customers deserting it amid tough competition, the introduction of the energy cap last year and lower demand in warm weather.

    Conn, who formerly worked for BP, has also faced criticism after pocketing £2.4million last year – a 44 per cent rise on the previous year – which triggered a 15 per cent vote against the pay report at May‘s annual shareholder meeting.

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