Centrica launches new global division as part of restructuring

British Gas owner Centrica on Wednesday announced it has launched a new global division to focus on residential and business end-customers.

The division, Centrica Consumer, will be led by Mark Hodges, the group’s chief executive of energy supply and services in the UK and Ireland.

Hodges will also assume responsibility for Centrica's North America Home business following the departure of Badar Khan, the chief executive of Energy Supply & Services in North America. Khan, who is stepping down on 6 March, is taking up a new role on the group executive committee of National Grid.

The company said the new division is part of a strategic restructuring to increase its focus on supplying services to end-customers as it shifts away from its core energy production business.

Chief executive Iain Conn said: “The world of energy and services is changing rapidly, and Centrica is responding to new global trends as we serve our residential consumers and business customers.

“Centrica’s strategy is to focus on the changing needs of our customers – in the home and business segments. This reorganisation enables a more coherent strategy built around the end-customer and gives us the ability to ensure capability is developed globally and efficiently in support of that strategy.”

Shares in Centrica closed up 0.58% to 230.40p.