Centrica has recruited a new head for its upstream business. Chris Cox will lead the Scottish Gas-owner’s exploration & production (E&P) business, which is one of the largest producers of natural gas in the UK.
Mr Cox was previously with BG Group, which is set to be taken over by Shell in a mega-merger. Until the start of 2015, he was an executive vice-president of the firm’s strategic division, BG Advance. A petroleum engineer with over over 30 years’ experience in the global oil and gas business, Mr Cox will lead Centrica’s plan to shave £1.5billion off its exploration and production (E&P) costs over the next five years.
He will report to Mark Hanafin, who is chief executive, energy production, trading & distributed energy.
He replaces Sarwjit Sambhi, who will take over the group’s newly-formed domestic customer business of British Gas. The division has over 22 million customer accounts. The move is part of a strategic review.
From April, British Gas will no longer operate through the three businesses – British Gas Residential, British Gas Services and British Gas Business.
Instead the firm will create two new business units – UK Home and UK Business – reflecting a similar structure created in its North American operations.
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