Directorate Change

RNS Number : 1041A

Drax Group PLC

18 December 2014

 



18 December 2014

Drax Group plc

(Symbol:DRX)

Appointment of non-executive director / Chairman designate

On 24 September 2014, Drax Group plc ("Drax" or "the Company") announced that Charles Berry is to retire as a non-executive director and Chairman of the Board at the conclusion of the Company's next Annual General Meeting ("AGM") scheduled to be held in April 2015.

Drax has today announced that following a thorough search and selection process it is appointing Philip (Phil) Cox CBE as a non-executive director and Chairman designate with effect from 1 January 2015. He will then succeed Charles Berry as Chairman with effect from the close of the 2015 AGM. 

Phil Cox has deep experience of the power industry, his last executive position being CEO of International Power, a position he held for 10 years.  There, he led the growth and development of a substantial global power generation business.  Since leaving International Power, Phil has concentrated on his non-executive portfolio developing valuable board experience.

David Lindsell, Senior independent non-executive director of Drax, who led the search and selection process on behalf of the Board commented:

"Phil has significant board experience in both executive and non-executive capacities, and importantly, extensive experience in the power sector. My fellow Board members and I look forward to welcoming him to the role. " 

"On behalf of the Board I would also like to offer our gratitude and thanks to Charles Barry for his sterling job chairing the board for the past seven years, over what has been a transformational period for the Group. He has been a wonderful advocate for the business and I know everyone at Drax wishes him well for the future" 

Charles Berry, Chairman of Drax, added:

"I have greatly enjoyed my time at Drax and I look forward to working with Phil in the months ahead. Phil's knowledge and experience of the sector are a particular strength and position him well to support the executive team in driving the business forward.  I wish him every success when he takes over the reins in April."

Phil Cox, Chairman-designate of Drax, said:

"I am delighted to be offered the opportunity to chair the Drax Board. I am passionate about the important contribution made by the UK's independent power companies. Drax is leading the way, with its transformation to a predominantly biomass-fuelled generator, which is the largest decarbonisation project in Europe.   I look forward to joining the Board in January and taking up my new role as Chairman following the AGM."

There are no further details required to be disclosed under LR 9.6.13R of the Listing Rules of the UK Listing Authority.

Enquiries:

Drax Investor Relations: Michael Scott / Mark Strafford

[phone] / [phone]

Media:

Drax External Communications: Melanie Wedgbury

[phone]

Website: www.drax.com

END

Notes:

1.   Phil Cox is currently a non-executive director, Senior Independent Director and Audit Committee Chairman of Wm Morrison Supermarkets PLC, a non-executive director of Meggitt PLC and a non-executive director of PPL Corporation, a US-listed energy utility company.

2.   His previous appointments include: Chief Executive Officer, International Power plc; Senior Vice President, Operational Planning, Invensys plc; Finance Director of Siebe PLC; and non-executive director and Chairman of Audit Committee of Wincanton plc.

 

END

 

 

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