Reed Elsevier share price: Company appoints Centrica’s Nick Luff as CFO

on Jan 7, 2014
Updated: Jun 1, 2022

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(LON:REL), the FTSE 100 publisher and information provider , announced today that it has appointed Nick Luff as Chief Financial Officer. Luff will join the company from energy giant Centrica Plc (LON:CNA), where he has been CFO since 2007.
In today’s trading Reed Elsevier shares were flat at 904p as of 9:51 UTC.
**New CFO**
Prior to his stint at Centrica, Luff worked for logistics and shipping group P&O and its subsidiaries, in a variety of senior finance roles including CFO of the parent company. Luff currently serves as a Non-executive Director of Lloyds Banking Group plc.

Commenting on the appointment, Reed Elsevier Chief Executive Officer Erik Engstrom said: “I am pleased to have Nick join the team. His many years of experience as Finance Director of a FTSE 30 company, combined with his involvement in dual UK/US and Netherlands-based listings, make him a great fit for Reed Elsevier.”
Chairman Anthony Habgood welcomed Luff in his new role, saying that the company looks forward to benefitting from his “long-established skills in running the finances of FTSE100 companies”. Habgood also thanked Duncan Palmer, Reed Elsevier’s outgoing CFO, for his “positive contribution” at the company. Palmer announced in September his intention to step down citing family circumstances that required his return to the US.

In its own statement today, Centrica, the UK’s largest household energy supplier, said that Luff would leave the company before the end of this year but the exact date remained to be confirmed. The energy giant said that a search for a successor is currently underway. In the meantime Luff will “continue as Group Finance Director, and as a Board member, and will assist with an orderly transition to his successor,” the company said.

Luff’s departure from Centrica follows that of Chairman Roger Carr, who stepped down from the post at the end of last year and was replaced by the former head of Network Rail, Rick Haythornthwaite.
**As of 11:05 UTC buy Reed Elsevier shares at 901.00p**
**As of 11:05 UTC sell Reed Elsevier shares at 900.50p**
**As of 11:05 UTC buy Centrica shares at 338.30p**

**As of 11:05 UTC sell Centrica shares at 338.10p**
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