SSE plc
EXECUTIVE DIRECTORS
Alistair Phillips-Davies, currently Deputy Chief Executive, will become Chief Executive of SSE plc on 1 July 2013 in succession to Ian Marchant, who has decided to step down after 10 years in the job. Gregor Alexander, Finance Director, will have an expanded role in supporting and deputising for the Chief Executive in the running and operations of the SSE group.
Following these changes, the Board of SSE will comprise the two Executive Directors and five non-Executive Directors, plus the Chairman. SSE's Management Board, which is chaired by the Chief Executive, will remain responsible for implementing strategy and policy and for the operational management of SSE's businesses. The average length of service with SSE of the eight Managing Directors currently on the Management Board is over 15 years.
Alistair Phillips-Davies joined SSE's predecessor company Southern Electric in 1997 and joined the Board of SSE as Energy Supply Director in 2002. He became Generation and Supply Director in 2010 and was appointed Deputy Chief Executive in 2012.
Gregor Alexander joined SSE's predecessor company Scottish Hydro Electric in 1990 and joined the Board of SSE as Finance Director in 2002. In addition to Finance, he was given Board-level responsibility for Group Services, including IT and HR, in 2010.
Ian Marchant joined SSE's predecessor company Southern Electric in 1992 and joined the Board of SSE as Finance Director when it was formed in 1998. He was appointed Chief Executive in 2002.
Lord Smith of Kelvin, Chairman of SSE, said:
'I'd like to thank Ian. He has been a Chief Executive of the highest standard, giving outstanding leadership to SSE and to the energy sector as a whole. In every one of his years as Chief Executive, SSE has delivered above-inflation increases in the dividend while making significant progress throughout its operations, including the quality of service provided to network and retail customers, and in other key areas such as the development of renewable energy. Under Ian's leadership, and that of Alistair and Gregor as well, the company has been transformed in scale and scope. With all of these achievements, and after 10 years' exemplary service as Chief Executive, I understand why Ian is choosing to step down.
'In considering who should succeed Ian, the Board set clear criteria. SSE's Chief Executive should have:
· detailed understanding of the energy markets in Great Britain and Ireland and of the increasingly global context in which they operate;
· clear ability to learn from experience and to deliver change where needed to meet the requirements of SSE's stakeholders, especially customers;
· successful experience of carrying out a leadership role in a FTSE 100 company and an appreciation of the accountability that goes with leading a major UK-listed company; and
· commitment to the dividend as the best means of remunerating shareholders for their investment.
'The Board has undertaken a rigorous process to determine who would be best placed to meet these criteria and concluded that Alistair, working with Gregor, the other members of the Management Board and the rest of the SSE team, is the right person to become Chief Executive.
'Moreover, I believe that a Board with a majority of independent non-Executive Directors and two Executive Directors, complemented by a strong and highly experienced Management Board, will provide the optimum governance framework for SSE in the coming years.'
Ian Marchant, Chief Executive of SSE, said:
'I have been tremendously privileged to be part of a team that has created SSE in to a company with a solid platform for future growth. I have thoroughly enjoyed my time as Chief Executive but feel that, after 10 years, the time is right for a change for both SSE and me. I am sure that SSE will continue to go from strength to strength under Alistair's leadership. As for me, I am looking forward to new challenges - whatever they may be!'
Alistair Phillips-Davies, Deputy Chief Executive of SSE, said:
'The job of Chief Executive is not one to be taken on lightly, but along with the responsibility comes the opportunity to build on the tremendous work that Ian has done in the past 10 years and to work with Gregor, the Management Board and the rest of the team throughout SSE to build on the company's track record of real dividend growth, sector-leading customer service and commitment to making supplies of energy more sustainable and as affordable as possible. I am looking forward to the opportunity of the next few months to work with Ian, Gregor and the rest of the team to make this transition as seamless as possible.'
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Further information:
Blogs, YouTube and photographs
The Chairman and the Head of Investor Relations have posted blogs at http://news.sse.com.
A YouTube video featuring the Chairman, Ian, Alistair and Gregor is available via SSE's YouTube channel: www.youtube.com/sseplc.
Photographs of the Chairman, Ian, Alistair and Gregor are available for general media usage via www.sse.com/images.
Alistair Phillips-Davies biography
Alistair Phillips-Davies was born in Wiltshire in 1967. His secondary education took place at Woodlands School, Derby, and his higher education took place at Cambridge University, from where he graduated with a degree in Natural Sciences. He subsequently qualified as a Chartered Accountant while at Deloitte, Haskins and Sells. He also worked for HSBC (Samuel Montagu) and National Westminster Bank in corporate finance and business development roles before joining SSE's predecessor company Southern Electric in 1997 as Corporate Finance and Gas Business Manager.
After Southern Electric became part of SSE, he became Director of Corporate Finance and Business Development in the new business and then Director of Energy Supply Operations before joining the Board of SSE as Energy Supply Director in 2002. He became Generation and Supply Director in 2010 and was appointed Deputy Chief Executive in 2012. His home and his main office are in Scotland.
Ex-dividend date
Shares in SSE plc went ex-dividend today, 23 January 2013. The interim dividend of 25.2 pence per share, will be paid on 22 March 2013.
Q3 Interim Management Statement
SSE expects to publish its Q3 Interim Management Statement on Thursday, 31 January.
Enquires
Sally Fairbairn - Head of Investor Relations +44 (0)845 0760 530
Sam Peacock - Head of External Relations +44 (0)845 0760 530
Brian Lironi - Head of Media +44 (0)845 0760 530
