Mark Hodges, a veteran insurer without any experience in the energy industry, is likely to face immediate political and regulatory battle
Centrica has recruited an insurance industry veteran with no experience in the energy sector as head of British Gas.
Mark Hodges will take over at Britain’s biggest domestic energy supplier on 1 June and will join Centrica’s board. He will be paid an annual salary of £625,000, a bonus of up to twice that figure as well as up to three times his salary every year in shares under a long-term incentive plan – making the whole package worth up to £3.75m a year.