(Alliance News) - SSE PLC on Friday said it has named Barry O'Regan as its new chief financial officer, taking effect from December 1, replacing the outgoing finance director Gregor Alexander, in a slightly reshaped role.
The Perth, Scotland-based electricity utility said O'Regan will be promoted from his current role as finance director of SSE Renewables.
He also has responsibility for corporate finance across the group and joined SSE in 2008.
SSE said O'Regan would hold a "more traditional" CFO role, as the transition will see Alexander's current responsibilities for the IT and General Counsel terms transferred to the chief executive and procurement to the chief commercial officer.
"With nearly 20 years' experience working in the energy sector, Barry has a wealth of knowledge across financial control, corporate finance and [mergers and acquisitions], treasury, reporting and operational finance. He also has detailed experience of working with SSE's credit rating agencies," SSE said.
"He has been integral to the strategic refocusing of the company over the last decade and has led the execution of many acquisitions and divestments, including SSE's international expansion, as well as contributing significantly to establishing SSE Renewables and its subsequent strategic progress."
Outgoing Finance Director Alexander added: "It has been an absolute privilege and honour working for SSE over the last 32 years, in a company that has such a strong purpose and heritage driving forward the UK's net zero ambitions. I have enjoyed my time with the company immensely but the time is right to pass onto the next generation of leaders and I am delighted to be handing the baton to Barry to whom I wish every success in the role."
Alexander will step down from the in December and leave SSE at the end of March 2024 "after an orderly transition".
Shares in SSE were up 1.2% to 1,845.00 pence each in London on Friday afternoon.
By Greg Rosenvinge, Alliance News reporter
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