SSE PLC Directorate Change (0925X)
RNS Number : 0925X
21 April 2023
CHIEF FINANCIAL OFFICER APPOINTMENT
SSE plc is announcing that, following a competitive recruitment
process supported by an external executive search firm, Barry
O'Regan will be appointed as Chief Financial Officer and as an
Executive Director of SSE plc, effective 1 December 2023. Barry
will also join SSE's Group Executive Committee from the same date.
Outgoing incumbent Finance Director Gregor Alexander will step down
from the Board on the same date, before retiring and leaving SSE at
the end of March 2024 after an orderly transition.
Barry O'Regan is currently Finance Director of SSE Renewables as
well as having responsibility for corporate finance across the
whole of SSE Plc. Barry trained as a chartered accountant with PWC
in Dublin before joining Airtricity in 2005, and subsequently the
SSE Group in 2008.
With nearly 20 years' experience working in the energy sector,
Barry has a wealth of knowledge across financial control, corporate
finance and M&A, treasury, reporting and operational finance.
He also has detailed experience of working with SSE's credit rating
agencies. He has been integral to the strategic refocusing of the
Company over the last decade and has led the execution of many
acquisitions and divestments, including SSE's international
expansion, as well as contributing significantly to establishing
SSE Renewables and its subsequent strategic progress.
Gregor Alexander, who joined SSE at its inception in 1998 and
has been Finance Director since 2002, will continue in his
positions as Chair of SSE Transmission's Board and as a director on
the Board of Neos Networks Limited, SSE's joint venture with
The transition will also include transferring Gregor's current
responsibilities for SSE's IT and General Counsel teams to the
Chief Executive, and Procurement to the Chief Commercial Officer,
resulting in Barry holding a more traditional CFO role.
Alistair Phillips-Davies, SSE Chief Executive, said:
" I want to pay tribute to Gregor's achievements since SSE's
creation and to thank him for the unstinting support and sage
advice he's given me during my time as CEO. He has shown throughout
his career huge energy and enthusiasm for the business and
particularly all of the people who have contributed to making SSE
the success it is today. Gregor has made an exceptional
contribution to the Company and helped steer us through challenging
times whilst positioning us for the hugely bright future we have as
the UK's clean energy champion with a growing international
footprint. I wish him well in retirement knowing that he will
undoubtably be contributing to the net zero ambitions of Scotland,
the UK and beyond."
"In Barry we have secured a hugely capable successor who has
been instrumental in our strategic realignment in the last decade,
both corporately and in SSE Renewables. Barry has all the financial
capabilities and energy value chain knowledge to help propel SSE to
new heights as we take forward our Net Zero Acceleration Programme
and continue to grow the Group, I look forward to working with him
more closely on the delivery of the vision for SSE"
Barry O'Regan, incoming Chief Financial Officer, said:
"I am honoured to have been appointed as SSE's CFO. The
opportunities facing SSE are huge and we have a clear strategy,
strong capabilities and a firm financial footing from which to take
them. I am looking forward to working with our colleagues, the
leadership team and the Board as we build on past successes whilst
scaling new heights as we secure more high-quality growth options
across the Group."
Gregor Alexander, outgoing Finance Director, said:
"It has been an absolute privilege and honour working for SSE
over the last 32 years, in a company that has such a strong purpose
and heritage driving forward the UK's net zero ambitions. I have
enjoyed my time with the Company immensely but the time is right to
pass onto the next generation of leaders and I am delighted to be
handing the baton to Barry to whom I wish every success in the
role. I would like to thank all the colleagues I have worked
closely with over the years but especially my team: my fellow
Executive Directors, Alistair, and Martin; and the Board for all
their support. I wish them all the very best for the future."
The Company confirms there is no further information required to
be disclosed pursuant to paragraph 9.6.13 of the UK Listing
Barry O'Regan's remuneration package will consist of a basic
salary, benefits and variable incentive arrangements which are in
line with SSE's Remuneration Policy. Details of both Barry's
remuneration package and Gregor's remuneration arrangements will be
published in detail in SSE's forthcoming Annual Report in June
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