Drax CEO to step down after 12 years
Dorothy Thompson is to step down after 12 successful years as chief executive of Drax Group.
Thompson will remain in position until the end of 2017 and Will Gardiner, currently group chief financial officer, is to be appointed as group chief executive from 1 January 2018.
Thompson said: “Drax Group plays a strategic role in the UK electricity sector generating around 16% of UK renewable electricity, is a world leader in the production of wood pellets and is a leading challenger brand in the supply of electricity to businesses. I retire knowing the Group is in excellent shape: it has the right strategy, the right team and in Will, the right leader.”
Will joined Drax as group chief financial officer and a member of the Group Board in November 2015. The Board has kept succession planning well under review and his new appointment comes after a thorough selection process involving internal and external candidates.
Gardiner said: “I am thrilled to be appointed as group chief executive at this exciting time for Drax. The changes we are seeing in the UK energy sector are unprecedented and we have an opportunity to thrive while doing the right thing for the UK energy market. Drax’s people have demonstrated repeatedly their ability to deliver transformational change and I’m delighted to be working with them to build on Dorothy’s strong legacy.”
Drax chairman, Philip Cox added: “We are delighted Will is to become chief executive. He has been a key architect of our new strategy and is a focused, innovative and engaging leader. His appointment is a natural progression after two years working alongside Dorothy developing an ambitious strategy which I am confident will create significant benefits for all Drax’s stakeholders.
“On behalf of the Board I would like to thank Dorothy for her enormous contribution to Drax. She transformed the business during her tenure and leaves the Group in a strong position with a clear strategy that lays the foundations for further success in a changing energy sector.”
The Board will now commence a process to appoint a new Group Chief Financial Officer and will also review the option to make an appointment on an interim basis.
