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Last Updated: Tuesday, 14 March 2006, 19:07 GMT
British Gas owner gets new boss
British Gas workman
British Gas profits fell last year as wholesale prices rose
Centrica, the company which owns British Gas, has recruited a senior oil executive to become its new boss.

Sam Laidlaw will succeed Sir Roy Gardner, Centrica's chief executive since 1997, who announced his intention to step down last year.

Mr Laidlaw is currently a senior figure at US oil giant Chevron, having previously worked at energy firms Enterprise Oil and Amerada Hess.

Centrica is one of the UK's largest firms, with sales of 13.4bn last year.

It made a profit of 1.3bn in 2005 despite a fall in returns from British Gas due to rising wholesale gas prices

'Proven record'

It emerged last month that Gazprom, the state-owned Russian energy firm, was considering making a bid for the British business.

However, Centrica revealed it had not received any approach.

Centrica said Mr Laidlaw, who will take up the job in July, would be paid a basic annual salary of 850,000.

Chairman Roger Carr said Mr Laidlaw offered "an invaluable combination of upstream experience, a very considerable reputation for managing a large-scale global energy business and a proven record of creating shareholder value".




SEE ALSO:
Centrica ups stake in gas field
03 Mar 06 |  Business
Profits up at British Gas owner
23 Feb 06 |  Business
British Gas raises prices by 22%
17 Feb 06 |  Business
Centrica warns gas bills to rise
16 Dec 05 |  Business
Centrica shares soar on bid story
02 Feb 06 |  Business
Centrica buys North Sea gas stake
08 Aug 05 |  Business


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