(Alliance News) - Centrica PLC on Monday said Senior Independent Director Stephen Hester will set down as a non-executive director after being named the next chair of Nordic lender Nordea Bank AB.
The Windsor, England-based electricity and gas supplier operating under the British Gas and Scottish Gas brands said Hester has served six years on the company's board but will step down at its 2022 annual general meeting, which is held in May.
Nordea appointed Hester as chair designate last week. He will become chair with effect from October 1, replacing Torbjorn Magnusson after three years in the role.
Hester is currently chair at UK low-cost airline easyJet PLC and has been since August last year. His chief executive officer of RSA Insurance Group between February 2014 and May 2021, before RSA was acquired by a consortium composed of Canada's Intact and Scandinavian insurer Tryg AS.
Hester also served as CEO of state-backed lender Royal Bank of Scotland Group PLC - now NatWest Group PLC - during the financial crisis, replacing Fred Goodwin who led the bank to the brink of collapse in 2008.
By Heather Rydings; heatherrydings@alliancenews.com
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Centrica (CNA)
easyJet (EZJ)
Natwest (NWG)
