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Centrica became a separate, distinct corporation on 17 February 1997, when British Gas plc split (demerged) to form three separate companies: Centrica plc, BG plc and Transco plc. Centrica took over gas sales and gas trading, services and retail businesses, together with the gas production operations in the North and South Morecambe gas fields ...
The company was sold to Centrica in 2009 after a hostile takeover for £1.3 billion. Management fought for the company as they believed it was valued higher than the 845p a share offer. The chairman of Centrica at the time was William Samuel Laidlaw. Centrica's share price subsequently collapsed as they were unable to successfully deliver ...
In 2023, Centrica posted year-end profits of over £3 billion and O'Shea faced calls to forego his bonus again eventually settling for a package of over £4 million. [ 8 ] [ 9 ] In January 2024, O'Shea gave an interview to BBC Breakfast , in which he said of his pay of £4.5 million in 2022: "You can't justify a salary of that size.
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In 2018, Conn received a pay of £2.4 million which is a 44% increase from the income (£1.68 million) of 2017 despite Centrica losing 742,000 customers and terminating around 4000 employees. In July 2019 Centrica announced Conn would be stepping down from his post and retire from the company's board in 2020.
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