Chris O'Shea
{{short description|British businessman|bot=PearBOT 5}}
{{EngvarB|date=November 2023}}
{{Use dmy dates|date=November 2023}}
{{Infobox person
| name = Chris O'Shea
| image =
| image_size =
| caption =
| birth_name = Christopher Michael O'Shea{{cn|date=January 2024}}
| birth_date = 23 October 1973
| birth_place = Kirkcaldy, Scotland
| death_date =
| death_place =
| education = St Paul's RC Primary School, Glenrothes
Holy Cross High School, Hamilton
| alma mater = University of Glasgow
Duke University
| occupation = Businessman
| title = CEO, Centrica
| term = 2020-
| predecessor = Iain Conn
| successor =
| boards = Centrica, ITT
| known for =
| spouse =
| parents =
| children = 3
| relatives =
| website =
}}
Chris O'Shea (born 23 October 1973) is a British businessman. He has been the chief executive (CEO) of Centrica since early 2020.{{Cite news |url=https://www.theguardian.com/business/nils-pratley-on-finance/2020/jun/11/it-took-two-tortuous-years-for-unilever-to-untangle-the-mess|title=It took two tortuous years for Unilever to untangle the mess |first=Nils |last=Pratley |date=June 11, 2020 |newspaper=The Guardian }} He has been a non-executive director of ITT since May 2024.{{Cite web|url=https://www.itt.com/newsroom/news-releases/2024/itt-nominates-christopher-oshea-for-election-to-board-of-directors|title=ITT Nominates Christopher OShea for Election to Board of Directors | ITT Inc.|website=www.itt.com}}
Early life
O'Shea is Scottish and was born in Fife in 1973. His family moved to Glasgow when he was 11. He studied Accounting & Finance at the University of Glasgow, and completed an MBA at Duke University.{{cite web |last1=Gosden |first1=Emily |title='In this business, if you feel sorry for yourself then you're in the wrong job' |url=https://www.thetimes.com/business-money/markets/article/centrica-chris-o-shea-in-this-business-if-you-feel-sorry-for-yourself-then-you-re-in-the-wrong-job-rq58ppqqq |website=The Times |access-date=23 January 2024 |archive-url=https://archive.today/20220402052536/https://www.thetimes.co.uk/article/centrica-chris-o-shea-in-this-business-if-you-feel-sorry-for-yourself-then-you-re-in-the-wrong-job-rq58ppqqq |archive-date=2 April 2022 |language=en |url-status=live |date=2 April 2022}}
Career
O'Shea was chief financial officer of Vesuvius plc until September 2015, when he was appointed finance director of Smiths Group.{{cite web |title=Smiths Group names Chris O'Shea as new finance director |url=https://www.reuters.com/article/smiths-group-moves-cfo/brief-smiths-group-names-chris-oshea-as-new-finance-director-idUKFWN0XR0J020150501/ |website=Reuters |access-date=21 January 2024 |date=1 May 2015}}
=Centrica=
O'Shea joined Centrica in 2018 as chief financial officer before becoming chief executive officer in early 2020.{{Cite news |first=Emily |last=Gosden |date=14 April 2020 |url=https://www.thetimes.com/business-money/companies/article/centrica-appoints-chris-oshea-as-chief-executive-877rv930r |title=Centrica is passing the flame to Chris O'Shea |newspaper=The Times }}
O'Shea has led a turnaround of Centrica, cutting 5000 jobs of which more than half were management roles, and removing three layers of management.{{cite web |last1=Ralph |first1=Alex |title=Centrica, owner of British Gas, to cut 5,000 jobs |url=https://www.thetimes.com/business-money/economics/article/centrica-owner-of-british-gas-to-cut-5-000-jobs-hf99v2lq2 |website=The Times |access-date=21 January 2024 |archive-url=https://archive.today/20210704014922/https://www.thetimes.co.uk/article/centrica-owner-of-british-gas-to-cut-5-000-jobs-hf99v2lq2 |archive-date=4 July 2021 |language=en |url-status=live |date=11 June 2020}}{{cite web |last1=Ambrose |first1=Jillian |title=British Gas owner plans new turnaround effort as profits hit record low |url=https://www.theguardian.com/business/2021/feb/25/british-gas-owner-centrica-plans-new-turnaround-effort-as-profits-hit-record-low |website=The Guardian |access-date=21 January 2024 |date=25 February 2021}} In 2022 Centrica posted the highest annual earnings in its 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 global energy 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.{{cite web |title=Too early to discuss bonus, says British Gas boss |url=https://www.bbc.co.uk/news/business-64652142 |website=BBC News |access-date=21 January 2024 |date=16 February 2023}}{{Cite web |title=Unite urges Centrica Shareholders to reject CEO's obscene bonus at AGM |url=https://www.unitetheunion.org/news-events/news/2023/june/unite-urges-centrica-shareholders-to-reject-ceo-s-obscene-bonus-at-agm/ |access-date=2024-02-21 |website=Unite the Union}}
In January 2024, O'Shea gave an interview to BBC Breakfast, in which he said of his pay of £4.5{{nbsp}}million in 2022: "You can't justify a salary of that size. It's a huge amount of money, I am incredibly fortunate. I don't set my own pay, that's set by our remuneration committee."{{cite web |last1=Neate |first1=Rupert |title=Boss of British Gas owner says it is 'impossible to justify' his £4.5m pay |url=https://www.theguardian.com/business/2024/jan/19/boss-of-british-gas-owner-says-it-is-impossible-to-justify-his-pay-chris-o-shea |website=The Guardian |access-date=21 January 2024 |date=19 January 2024}}{{cite web |last1=Powell |first1=Emma |title=My pay is impossible to justify, says Centrica boss Chris O'Shea |website=The Times |url=https://www.thetimes.com/business-money/companies/article/centrica-chris-oshea-pay-salary-9kfzc27dm |access-date=21 January 2024 |archive-url=https://archive.today/20240119193122/https://www.thetimes.co.uk/article/centrica-chris-oshea-pay-salary-9kfzc27dm |archive-date=19 January 2024 |language=en |url-status=live |date=19 January 2024}}{{cite web |title=British Gas boss Chris O'Shea: 'I can't justify my pay of £4.5m' |url=https://www.bbc.co.uk/news/business-68029653 |website=BBC News |access-date=21 January 2024 |date=19 January 2024}} In 2023, his remuneration increased to £8.2{{nbsp}}million,{{cite web |title=British Gas chief's pay package jumps to £8.2m |url=https://www.bbc.co.uk/news/business-68669446 |website=BBC News |access-date=26 April 2024 |date=26 March 2024}} which was criticised by the High Pay Centre.{{cite web |last1=Davies |first1=Rob |title=British Gas owner doubles boss’s pay to £8m – despite qualms over previous rise |url=https://www.theguardian.com/business/2024/mar/26/british-gas-owner-doubles-bosss-pay-to-8m-despite-qualms-over-previous-rise |website=The Guardian |access-date=26 April 2024 |date=26 March 2024}}
References
{{Reflist}}
External links
- [https://www.centrica.com/about-us/governance/our-board-members Centrica board]
{{S-start}}
{{S-bus}}
{{S-bef|before= Iain Conn }}
{{S-ttl|title= Chief Executive of Centrica|years= March 2020 – }}
{{S-aft|after= Incumbent }}
{{S-end}}
{{DEFAULTSORT:OShea, Chris}}
Category:British chief executives in the energy industry