Bord Gáis owner's CFO steps down after seven months

Bord Gáis Energy owner Centrica said Johnathan Ford would leave the company on January 31 as the utility undergoes restructuring efforts

Redundancies at Bord Gáis Energy are not expected to form part of the restructuring.

Bord Gáis Energy owner Centrica said its chief financial officer Johnathan Ford would step down after just seven months in the role as the utility undergoes restructuring efforts.

The company, which also owns British Gas, said Ford would leave the company on January 31 and is stepping down for personal reasons.

Kate Ringrose, who has been with Centrica for 16 years, and has most recently been group financial controller, was appointed group chief financial officer with immediate effect.

Centrica said last week a restructuring plan it had unveiled in June remains on track, and trading and optimisation performance continued to be strong, in particular in its liquefied natural gas business.

5,000 jobs cut

That plan will see up to 5,000 jobs cut in the UK as part of a cost-saving plan. However, redundancies at Bord Gáis Energy are not expected to form part of the restructuring.

Britain's GMB trade union said its members at British Gas would start a series of seven one-day strikes this week in protest over proposed changes to work conditions.

GMB said the industrial action was over what it called plans to "fire and rehire" and cuts to workers’ pay and terms.

• Additional reporting Reuters