Designate appointments made to Executive Committee of planned Energy and Services Retailer
A series of appointments has been made, on a designated basis, to the Executive Committee of the new independent British energy supply and services company that SSE plc (SSE) and innogy SE (innogy) have agreed to form, subject to necessary regulatory approvals.
The appointments were made by Chief Executive Designate Katie Bickerstaffe, with support from SSE and innogy and following a rigorous and competitive process that was facilitated by a leading executive search company. They follow the recent appointment of Chief Financial Officer Designate, Gordon Boyd.
The appointments are:
- Jason Scagell – Business to Business Director Designate, responsible for all aspects of large business energy supply and services. He is currently Director of Corporate Affairs and Development for npower.
- Stephen Forbes - Chief Commercial Officer Designate, responsible for all commercial aspects of household and small business energy supply, including pricing, marketing, and development of energy-related products and services. He is currently Chief Commercial Officer for SSE Energy Services.
- Chris Pilgrim – Chief Human Resources Officer Designate, responsible for all people- and employment-related matters. He is currently HR Director for npower.
- Tony Keeling – Chief Operating Officer Designate, responsible for household and small business customer service, digital services and metering, including the smart meter programme. He is currently Chief Operating Officer for SSE Energy Services.
- Simon Stacey – Transformation Director Designate, responsible for corporate strategy, transformation, and the tracking and delivery of integration benefits. He is currently Managing Director of Home & Business for npower.
It is intended to appoint a General Counsel and Company Secretary Designate in due course, to be responsible for legal and company secretarial services, including governance.
In addition, Glenn Barber has been appointed Corporate Affairs Director Designate, responsible for corporate communications, regulation and compliance. He will report to the General Counsel and Company Secretary Designate, with a dotted reporting line to Katie Bickerstaffe, and will advise and attend the Executive Committee in relation to corporate affairs and regulatory matters. He is currently Director of Corporate Affairs for SSE Energy Services.
Work is also under way to appoint a Chair, with an announcement to be made in due course.
All of the people appointed to the roles set out above will remain in their current positions with their respective companies and these appointments will only become effective on the day the new company becomes operational. Prior to completion, the Executive Committee designate will contribute to planning for the formation of the new company. In the meantime, SSE and npower are continuing to compete with each other in the energy supply and services markets.
Katie Bickerstaffe said:
“My goal is to create a new, agile, innovative and efficient company that really delivers for customers, and I am very pleased to have such a strong group of people to join me in that endeavour. We all know that as we plan the new company, every decision we make must be about doing the right thing for all our stakeholders, and we are all committed to achieving for the new company a leadership position in the smarter, more responsive and digital energy market of the future. I am also confident that the new company will have people at every level with the skills and commitment to help achieve that goal.”
The combined retail company will be listed on the premium segment of the London Stock Exchange. It will not be controlled by either innogy or SSE: innogy will hold a minority stake of 34.4 per cent in the combined retail company. SSE will demerge its stake of 65.6 per cent to its shareholders upon completion of the transaction. The transaction was approved by SSE’s shareholders at a General Meeting in Perth on 19 July 2018. It remains subject to the approval of the relevant authorities. Subject to this approval, completion of the transaction and the listing of the new retail energy company are expected to occur in the last quarter of 2018 or the first quarter of 2019.