Reorganisation of Finance function

RNS Number : 3141G

Good Energy Group PLC

01 March 2018

 

Good Energy Group PLC

("Good Energy" or the "Company")

Reorganisation of Finance function

Chief Financial Officer to step down

Over the past 12 months, Good Energy has made significant progress adapting our business model to address our stakeholder needs in a highly competitive and dynamic energy market.

A key focus for the business during this time has been our Fit-for-Growth programme, which has already delivered annualised savings of more than £1m.

As part of this work, Denise Cockrem, Chief Financial Officer (CFO) since 2014, has identified that the Company does not need a CFO in addition to a Finance Director, and that her role could be made redundant. 

The Board has accepted this proposal, and Denise will step down as CFO and as a director of Good Energy from the 31st March 2018.

Rupert Sanderson, who is already in place as Finance Director (a non-board appointment), and Stephen Rosser, General Counsel and Company Secretary, will take on the remaining responsibilities.

Juliet Davenport, CEO of Good Energy commented:

"Denise has played a key role in the success of Good Energy as we developed the business to adapt to changing opportunities and challenges over recent years.

I would like to thank her for the dedication and counsel she has provided during her time with us and wish her every success in her next role."

Enquiries:
Good Energy Group PLC	[phone]
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Stephen Rosser, Company Secretary
Investec Bank plc	[phone]
Jeremy Ellis
Sara Hale
Smithfield Consultants	[phone]
Alex Simmons

Notes to editors:

·      Good Energy is a fast-growing green energy company, generating and selling 100% renewable electricity and carbon-neutral green gas to households and businesses across the UK.

·      An AIM-listed PLC, and founding member of the Social Stock Exchange, Good Energy was established in 1999 to empower households and business to address climate change through their choice of energy supplier.

·      The Company has been awarded 4 out of 5 stars by Which? for customer service in 2016 and 2017, and has been awarded a "Best Buy" by Ethical Consumer magazine.

·      As at 30 June 2017, Good Energy reported 71,150 renewable electricity customers and 42,750 carbon neutral gas customers. It also provides Feed-in Tariff administration services to 137,900 sites, bringing the total number of customers to 251,800.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial onshore wind farm and owns and operates Hampole Wind Farm, near Doncaster. Following the sale of Newton Down Farm and Brynwhilach Farm, the Group will own and operate six solar farms.

·      Good Energy received an average customer advocacy of 45. A net promoter score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand.

·      Good Energy has won a number of awards, including Renewable Energy Association Company of the Year Award 2016, Business Green Company of the Year 2015, and was named Social Impact Company of the Year at the 2014 and 2015 Small Cap awards.

 

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