Chris O’Shea
Born
Christopher Michael O’Shea

23 October 1973
Kirkcaldy, Scotland
EducationSt.Paul’s School, Glenrothes
Holy Cross High School, Hamilton
Alma materUniversity of Glasgow
Duke University
OccupationBusinessman
TitleCEO, Centrica
Term2020-
PredecessorIain Conn
Children3

Chris O’Shea (born 23 October 1973) is a British businessman. He has been the chief executive (CEO) of Centrica since early 2020.[1]

Early life

O’Shea is Scottish and was born in Kirkcaldy in Fife in 1973. He spent his early years in Glenrothes, Fife before going to high school in Hamilton, near Glasgow. He is one of four children.

Career

Centrica

O’Shea joined Centrica in 2018 as chief financial officer before becoming chief executive officer in early 2020.[2]

O’Shea has led a turnaround of Centrica which focussed the business by disposing of non-core assets, eliminating 4,000 management roles and delayering the organisation to improve the speed of decision making. The balance sheet was restructured with the elimination of over £7 billion in liabilities, resulting in the company having net cash of £3.1 billion at the end of the first half of 2023. During O’Shea’s time colleague engagement has been transformed through a programme to re-engage with the workforce and a strong belief in the inverted pyramid model of leadership. Centrica has been one of the highest performing stocks in the FTSE100 under O’Shea with the share price growing more than 400%. In 2022 Centrica posted the highest annual earnings in it’s history, repeating the feat in 2023 with record first half earnings.

From 2019 to 2022, O'Shea forewent annual bonuses of several million pounds citing the hardships faced by consumers during COVID-19 pandemic and then the international energy price crisis. In 2023, Centrica posted year-end profits of over £3 billion and O'Shea faced calls to forego his bonus again eventually settling for a package of over 4 million GBP.[3][4]

References

  1. ↑ Pratley, Nils (11 June 2020). "It took two tortuous years for Unilever to untangle the mess". The Guardian.
  2. ↑ Gosden, Emily (14 April 2020). "Centrica is passing the flame to Chris O'Shea". The Times (newspaper).
  3. ↑ https://www.bbc.co.uk/news/business-64652142
  4. ↑ https://www.unitetheunion.org/news-events/news/2023/june/unite-urges-centrica-shareholders-to-reject-ceo-s-obscene-bonus-at-agm/
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