Centrica CFO quits after less than a year in post

Kate Ringrose, who has been with Centrica for 16 years and has most recently been Group Financial Controller, will take over as CFO with immediate effect

The Big Zero report

Centrica’s Chief Financial Officer (CFO) Johnathan Ford is to step down from his role after only seven months and leave the company “for personal reasons”.

Mr Ford, who will quit at the end of January, was hired as the finance chief in June last year during a restructuring that saw around 5,000 job cuts across the company.

Kate Ringrose, who has been with Centrica for 16 years and has most recently been Group Financial Controller, will take over as CFO with immediate effect.

She has also held a variety of roles across the energy, services and trading businesses.

Mr Ford said: “I am pleased to have been involved in the initial stages of the turnaround of Centrica and I am disappointed I will not be able to see it through to its conclusion. However, the Company has made fundamental progress over the past year and I wish Chris [O’Shea], Kate and the rest of the Centrica team well for the future.”

Ms Ringrose will also join the company Board as an Executive Director.

She added: “I am honoured to have been appointed as Centrica Group Chief Financial Officer. While there remains a lot to achieve to complete the turnaround of the company, I have seen first-hand that we have the people, capabilities and market positions to do so.“I look forward to working with Chris, the Board and colleagues across the Group and playing my part in the turnaround of Centrica.”

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