Centrica’s finance director, Nick Luff, is quitting his role at the British Gas owner to join Reed Elsevier, leaving the company on the hunt for a replacement at a difficult time for the energy industry.
Luff will leave Centrica after the firm has found his successor. He joined Centrica in 2007, joining Sam Laidlaw who had recently been appointed chief executive.
Laidlaw said: “I will miss Nick’s valuable input to my team and I would like to thank him for his on-going support over the coming months. I know that I speak on behalf of everyone at Centrica in wishing him well in this next chapter of his career.”
Luff’s departure comes ahead of a likely storm over household energy prices, which could become a political football in the run up to next year’s election.
Centrica said Luff was leaving for “a new challenge” in a different industry.
Erik Engstrom, Reed Elsevier’s chief executive, said: “I am pleased to have Nick join the team. His many years of experience as finance director, combined with his involvement in dual UK/US and Netherlands-based listings, make him a great fit for Reed Elsevier.”
Centrica shares were down 0.76% to 339.9p in early morning trading today.