REG-Centrica PLC Directorate Change

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LONDON--(Business Wire)--

CENTRICA PLC

27 February 2013

PHIL BENTLEY TO STEP DOWN AS MANAGING DIRECTOR OF BRITISH GAS

Centrica announces that Phil Bentley, after a successful career lasting 12
years, will be stepping down from his role as Managing Director of British Gas,
and Board Member of Centrica on 30 June 2013 and will leave the Company by 31
December 2013.

Phil Bentley will be leaving the Company in order to pursue his ambition to
become a Chief Executive, recognising that this role is not currently available
to him within the Centrica organisation.

During his career with Centrica, Phil Bentley has made a substantial
contribution to the development of the business initially as Finance Director,
and for the last six years, as Managing Director of British Gas. In his most
recent role he has been instrumental in restructuring, reinvigorating and
materially improving the performance of the business by raising customer service
standards, lowering costs, increasing productivity and creating significant
value from profit improvement.

Management transition

In order to ensure the efficient running of the business and a smooth handover
to his successor, the Board and Phil Bentley have agreed the following
transitional programme:

* Mr Bentley will continue as Managing Director of British Gas until 30 June
2013 and therefore will stand for re-election as a Director at the Company`s AGM
in May for the interim period;
* From 1 July up to the 31 December 2013, Mr Bentley will cease to be a Board
Director but remain in the employment of the Company. He will work to ensure a
smooth transition to the new organisational structure working directly for Mr
Sam Laidlaw, the CEO of Centrica.

The financial arrangements associated with his departure are as follows:

Current year reward structure

* Mr Bentley will be paid according to his current contractual arrangements,
including pro rata performance bonus awards, through to the expiry of accrued
vacation on 31 July 2013. Thereafter, Mr Bentley will be paid a basic salary and
all bonus earning opportunities will cease.
* Mr Bentley will not participate in any new long term awards to be made in
2013.
* In the event that Mr Bentley takes up new full time employment after the
hand-over he may be released from his employment, in which case all remuneration
will cease at that time.
* There will be no lump sum payment made to Mr Bentley in lieu of notice. On
completion of his employment, Mr Bentley will be deemed to have worked his
contractual notice period.

Pension arrangements and historic incentive awards accrued by Mr Bentley during
his employment

* Mr Bentley is classified as a "good leaver" and is therefore entitled to all
accrued allocations that have been earned during his employment under the long
term incentive plans in the normal way.
* The value of the long term incentive plans will be time apportioned and will
remain subject to the performance conditions and therefore the actual number of
shares which vest will be lower than the maximum potential. The actual value of
the awards will be determined at end of the performance measurement period.
* Mr Bentley will leave with a pension entitlement consistent with his
contractual rights which reflects his length of service and includes accrued
rights transferred in from his prior employment commencing in September 1980.
Under the pension arrangements, Mr Bentley is entitled to retire at age 55 on a
reduced pension or at age 58 on an unreduced pension. Based on the contributions
at 31 December 2012 and assuming Mr Bentley retires at age 58, he will become
entitled to an annual pension from the Company of approximately £226,200 p.a.

Sir Roger Carr said; "The new organisational structure will position the Company
for the next phase of growth; the Board and the Executive are grateful to Phil
for all his considerable achievements at British Gas. He leaves the Company with
the full support, appreciation and good wishes of both his Executive and Non
Executive colleagues with whom he has enjoyed excellent working relationships
throughout his time as a Board member".

Phil Bentley said; "I have thoroughly enjoyed my 12 years at Centrica and wish
the Company every continued success".

Sir Roger Carr
Chairman, Centrica plc

Contacts:
Centrica Investor Relations: 01753 494900
Centrica Media Relations: 0800 107 7014

Centrica PLC

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