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.
