Electricity4business Appoints Top Flight Finance Director

London, UK, 18 July 07 - electricity4business a specialist UK supplier of business electricity announces the appointment of Simon Richards as Finance Director.

Simon, who will join E4B on 1 August 2007, has nearly 20 years of experience in the electricity market, most recently as Finance Director of E.ON UK’s Retail Business, Powergen. Such high profile moves in similarly concentrated sectors in the past have often led to a sea-change within the industry. Some such examples are evident in companies such as Virgin and easyJet where entrepreneurial flair has combined with sound commercial management skills to help break through the concentration barrier.

And those who have successfully challenged the status quo to bring the customer a better deal have invariably relied on strong financial expertise to reach their goals.

Simon Richards said: “I am relishing the opportunity to grow a business and challenge the way existing suppliers do things and to be part of a small tightly-knit team with shared ambitions.”

And his credentials for the job are unquestionably out of the top drawer –

“I am a chartered accountant, well qualified to ensure that the business operates under strong financial control and can meet its financial and statutory requirements, particularly as it grows.”

“With nearly 20 years experience in the electricity market I have gained a strong understanding of the competitive dynamics of the sector. I was at various stages responsible for energy risk management, pricing strategy, industry settlement, working capital management and regulatory affairs, all of which are critical to E4B’s continued success.”

Announcing the new appointment Simon Miles, E4B’s Chief Executive Officer, said: “Simon brings a breadth of energy retail experience to E4B gained during his time at Powergen. When I set out to find the ideal candidate I was looking for someone with finance experience at the highest level within an electricity supply company but also someone who could adapt to work in a small but fast moving business. Simon meets both of these requirements and I am delighted to have attracted such an outstanding individual.”

“Simon began his career as a management consultant with Coopers & Lybrand’s utilities group, specialising in system and process improvement – this fits well with our low cost culture and will add to our competitive advantage in this area.”

ENDS

Notes for Editor:

About Simon Richards
2002 – 2007 E.ON UK – Finance Director, Retail
(Director of Powergen Retail Ltd, E.ON UK Gas Ltd, Economy Power Ltd & Powergen Warm Front Ltd, trustee of EME pension plan)
Reporting to the Managing Director, Retail and the UK CFO, complete financial responsibility for the Retail Division with a turnover of £6bn, 8.5m customer accounts and working capital of £1.6bn. Leading a team of up to 200 staff, including commercial and regulatory affairs.

1999 – 2002 East Midlands Electricity – Director of Finance, IS & Procurement
(Director of East Midlands Electricity Distribution plc & East Midlands Pipelines Ltd)
Reporting to the Managing Director and the UK CFO, complete financial responsibility for a turnover of £250m, annual procurement of £100m and IS, leading a team of 60.

About Electricity 4 Business Ltd
Electricity4business provides an alternative to the big 6 by providing cheap business electricity for small and medium sized businesses spending less than £100,000 per annum on their electricity supply.

Business electricity customers can compare & switch immediately online at http://www.electricity4business.co.uk

Contacts:
For interviews, quotes, photos or comments contact:
Bernard Scally
MRA Public Relations
Phone: 020 8847 2538
Email: pr@electricity4business.co.uk

Lynette Havenga-Stokes
Marketing Manager
electricity4business
Phone: 01908 353394
Email: lhavengastokes@electricity4business.co.uk

This release was published on openPR.