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SSE and innogy add to new supplier top table with CFO designate

Image: SSE.

Image: SSE.

SSE and innogy have continued to make top-table appointments to their would-be merged supply entity, identifying a chief financial officer designate.

Having named Katie Bickerstaffe CEO designate in April, the two parties have revealed that energy industry veteran Gordon Boyd is to take up the role of CFO designate as of 4 July, with the immediate priority to work towards the supplier’s listing.

Boyd has held numerous roles in the energy sector since 1989 at utilities including British Energy and EDF, and oversaw the IPOs of both Drax and Infinis.

Alistair Phillips-Davies, chief executive at SSE, said that Boyd’s appointment was “another important milestone” in the establishment of the new supplier, adding that Boyd would bring a “wealth of highly relevant experience”.

“This is an exciting time to be planning the formation and listing of a major new player in the energy and services market and I’m delighted to join the new leadership team. The new company presents a unique opportunity to apply best practice from both companies whilst becoming more efficient, ultimately to the benefit of both customers and shareholders,” Boyd added.

SSE and innogy first announced their intent to effectively merge their respective supply divisions in November last year, however the deal now faces significant scrutiny from the Competition and Markets Authority after the two companies failed to appease the regulatory body with their initial submissions.

Phillips-Davies said this morning that the companies continue to believe that the combined entity can deliver benefits to customers and the wider energy market in general. 

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