Stephen Hester to join Scottish Gas owner's board

The former chief executive of Royal Bank of Scotland is to join the board of Scottish Gas parent group Centrica.

Stephen Hester joins the Centrica board on 1 June. Picture: Ian Rutherford

The firm said that Hester, who is now the boss of More Than insurer RSA, will become a non-executive director from the start of next month and serve on its nominations and audit committees.

Centrica chairman Rick Haythornthwaite said: “His wide-ranging commercial experience, particularly in customer-facing businesses, together with his recognised expertise in transforming performance will be of significant benefit to the board as we implement our strategy.

“In addition, Stephen brings a broad understanding of financial services and FTSE 100 businesses, together with a deep knowledge of operating within highly regulated businesses.”

Hester was chief executive of bailed-out RBS between 2008 and 2013, and in a departing memo to staff said the lender had been “close to the point of collapse” when he took on the top job. The bank is now headed by Ross McEwan.