Milburn takes on Centrica IR as deregulation looms

Centrica has appointed Chris Milburn as its first head of investor relations as it gears up to face the competition that a deregulated gas market will provide. Its IR was previously handled by independent consultant Luke Glass.

Centrica has appointed Chris Milburn as its first head of investor

relations as it gears up to face the competition that a deregulated gas

market will provide. Its IR was previously handled by independent

consultant Luke Glass.



Milburn joins from manufacturing and engineering group BTR where he was

director of corporate affairs.



In his new role Milburn will work closely with Centrica’s corporate

affairs team and will report to Centrica’s group finance director Mark

Clare.



His main task is to maintain relations with City investors and key

shareholders.



The full opening of the gas market next year will provide fresh

challenges for Milburn as other investment opportunities emerge for

shareholders.



Customer defections to rival companies are another major concern. In the

south of England, where the market is already open, Centrica has lost 22

per cent of its customers to rivals such as SwebGas.



Milburn says: ’Centrica is a new company, fresh from a demerger. We have

the opportunity to become more customer focused.’



Centrica’s first set of half-year figures following its demerger from

British Gas in February showed huge losses of pounds 149 million. In the

same period last year it made pounds 196 million. However, its

management has impressed the City with its attempts to tackle inherited

problems such as poor customer service.



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