LE gains control of Virgin Energy

Virgin Energy is to be consolidated into London Electricity after LE bought a 75 per cent controlling stake in Sir Richard Branson’s energy company this week.

The move leaves a question mark over the future role of Virgin Energy managing director Jon Kinsey.

LE had owned 25 per cent of the company, but Virgin Energy has now sold a further 50 per cent stake to LE, which plans to inject further capital into the one-year-old energy brand. The investment will aid the launch of a telecoms service through Virgin later this year.

Following the acquisition, LE has hinted at appointing one person to oversee its three brands, including SWEB.

LE lost its managing director and top retail supply marketer, Martin Wenban, last month and is looking for a replacement (MW June 14). Wenban left without a job to go to.

In a statement, LE says the day-to-day operation of the business will remain unchanged and Kinsey will continue as the managing director of Virgin Energy.

But a source at LE says: “It has not been decided how the business will be structured. One of the options could be to consider having an overall head of all three brands.”

LE Group directors Bernard Cottrant and Gerald Wingrove will represent LE Group interests on the Virgin Energy Board. Virgin Energy board director Gordon McCallum will represent Virgin.

Virgin Energy marketing director Gary Tubb says: “We needed a lot of money to drive the telecoms and energy business and it was a question of which is the best way to do this.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here