Centrica global marketing director Simon Waugh’s position at the company is in doubt following the termination of the company’s group marketing function.
Insiders suggest that Waugh is looking for a new role within Centrica. The move is part of Centrica’s cost-cutting exercise, which will include a cull of 850 jobs across all its brands.
The group marketing function has been disbanded and the individual brands will instead run their own marketing teams. As a result, British Gas director of marketing Nick Smith has been given additional responsibility for commercial sales. The company is aiming to achieve savings of £90m in 2005. Reports suggest that British Gas lost 220,000 customers in the first quarter of the year because of a 5.9 per cent rise in prices.
A Centrica spokesman says: “Simon is not leaving and he will continue in his role as the group marketing director. He will continue to lead the strategic co-ordination of Centrica brands.”