The managing director of British Gas, Chris Weston, is the latest executive to depart Centrica, as the company reels from successive leadership departure announcements.

A major reorganisation is expected at the company after Weston (pictured) was chosen to replace Rupert Soames as head of Glasgow-based Aggreko, leaving the Centrica (LSE: CNA) MD role after just 15 months.
Chris Weston
Finance director Nick Luff’s departure has also been announced, as he relocates to Reed Elsevier. Chief executive Sam Laidlaw is also expected to follow the exodus out of the company.

With vacancies now existing for three of the company’s most senior management positions, the company is seen to be in disarray with one former executive (unnamed) telling the Financial Times, “Centrica was a company in transition. Now it’s a company in turmoil.”

City AM has mentioned BP downstream operations chief David Conn as a likely successor but he will have an unenviable task as the company struggles with the pressure of delivering on investment and reducing consumer bills. A recent announcement by British Labour leader Ed Miliband that his party will freeze energy bills if elected, have added to that pressure; the company lost £2bn after that announcement amid growing anger at rising fuel costs.

Centrica’s overall profits are down, it has shed customers, and British Gas is facing a full inquiry by the Competition and Markets Authority.

Along with the rest of the big six, Centrica has been on the front line of a bitter political war over rising fuel costs that was sparked last autumn by Mr Miliband’s shock announcement. Centrica lost £2bn of its market value in the aftermath.

Rupert Soames is leaving Aggreko after 11 years in charge, in order to take the top job at Serco.

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