ScottishPower is looking for a new chief executive after Nick Horler quit yesterday after just two years in the job.
Until a new appointment is made, ScottishPower, which was taken over by Spanish firm Iberdrola three years ago, will continue to be run by its current management team, under the supervision of the group’s international chief operating officer, Amparo Moraleda.
Mr Horler will remain as an adviser to the chairman, Ignacio Galán, having successfully completed the merger of ScottishPower with Iberdrola.
Mr Galán said: “The UK subsidiary is today a much more efficient company as a result of Mr Horler’s efforts.”
No official reason has been given for Mr Horler’s resignation.
Mr Horler joined the firm in June 2008 from E.ON UK, where he was executive director. Before that he spent 12 years with Phillips Petroleum, now ConocoPhillps, where he was marketing director.
ScottishPower is the leading wind power generator in the UK and the country’s third largest electricity group.