BG share price: Centrica’s Laidlaw rules out top job at company

on Jun 16, 2014
Updated: Apr 9, 2020
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iNVEZZ.com, Monday, June 16: Sam Laidlaw, the chief executive of Centrica (LON:CNA), has ruled himself out of the race for the top job at BG Group (LON:BG), Sky News has reported. BG has been searching for a chief executive since April when Chris Finlayson stepped down after having spent a little more than a year in the job.

BG’s share price has lost about 0.51 percent to 1,260.00p so far today, while Centrica’s share price currently stands 1.44 percent lower at 321.60p.
**Laidlaw not interested at top job at BG Group**
Sky News yesterday reported without quoting any sources that Laidlaw, whose departure from Centrica is expected to be announced within weeks, had told friends that he was not interested in taking the helm at BG Group.

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BG Group’s former chief executive Finlayson resigned in April citing ‘personal reasons’ for his decision. (BG share price: Chief executive Chris Finlayson steps down) Finlayson’s resignation came amid ongoing problems with the company’s operations in Egypt which have forced BG to lower its output guidance twice this year.

Inside sources told Sky News that Laidlaw had had no serious discussions with BG, which is now understood to have identified a preferred candidate to replace Finlayson from outside the UK. One of the sources noted that BG’s new chief executive could be announced at around the time of the company’s second-quarter results due out at the end of next month.

**Leadership vacuum at Centrica**

Centrica, which is currently in the middle of its biggest boardroom shake-up since Laidlaw joined the company in 2006, is also said to be looking for a new boss. Last month, news emerged that the company was moving closer to appointing Iain Conn, head of refining at BP Plc (LON:BP), to replace Laidlaw, who is planning to step down amidst growing political pressure on the company over soaring bills at British Gas. (Centrica share price: Group moves closer to replacing Laidlaw)

Centrica recently confirmed the departure of Chris Weston, currently head of the company’s British Gas and Direct Energy businesses, who is due to take the top job at temporary power provider Aggreko (LON:AGK) next year. (Aggreko share price: Company appoints British Gas chief as CEO) Earlier this year, Weston was reported as the internal favourite for Laidlaw’s job.
**As of 15:01 BST, buy BG shares at 1259.50p.**
**As of 15:01 BST, sell BG shares at 1259.00p.**
**As of 15:02 BST, buy Centrica shares at 322.90p.**
**As of 15:02 BST, sell Centrica shares at 322.80p.**

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