Centrica names Mark Hodges as new British Gas chief
Centrica has announced the appointment of Mark Hodges as managing director of British Gas ending an 11-month search for a new leader.
The appointment follows the departure of Chris Weston, who announced he was leaving British Gas to join Aggreko last May.
Mr Hodges joins British Gas from specialist insurance broker, Towergate.
He will take on his responsibilities from 1 June, and will also join the Centrica board.
Mr Hodges was a senior executive as Aviva for 20 years before leaving to become chief executive of Towergate in 2011.
He will be paid basic salary of £625,000 and received a bonus of up to 100% of salary if all performance targets are met.
But he could receive a bonus worth 200% of his basic salary if he exceeds those performance targets.