Aggreko Names Chris Weston CEO, Carole Cran CFO <br /><br />5/29/2014 3:32 AM ET<br /><br />Temporary power services provider Aggreko Plc. (AGK.L, ARGKF.PK) Thursday announced the appointment of Chris Weston as Chief Executive Officer. He is expected to join Aggreko next year after completing his commitments at Energy company Centrica plc (CNA.L), where he is currently Managing Director, International Downstream and an Executive Director on the Board.<br /><br />Aggreko also announced that Carole Cran, currently Interim Chief Financial Officer, is appointed as Chief Financial Officer and Executive Director, and will join the Board with immediate effect. Aggreko stock is currently trading around 3 percent lower in London.<br /><br />Weston succeeds Aggreko's Interim CEO Angus Cockburn, who will step down from the firm later in the year. The company noted that Cockburn had previously indicated to the Board of his decision not to apply for the role on a permanent basis and that he was keen to seek fresh challenges, after 14 years at Aggreko principally as Chief Financial officer.<br /><br />In late February, Aggreko's then CEO Rupert Soames announced his decision to join outsourcing and support services provider Serco Group Plc (SRP.L), with effect from June 1. Soames was leading Aggreko since 2003.<br /><br />At Centrica, Weston is running the firm's largest division, International Downstream, which comprises both British Gas in the UK and Direct Energy in the USA, with revenues of 22 billion pounds, profits of 1.3 billion pounds and over 35,000 employees. Aggreko noted that Weston led the re-evaluation of strategy in this division, and has developed the plan to deliver significant growth in profitability in a challenging environment.<br /><br />Weston joined Centrica in 2001, following his career in the telecoms industry, working for both Cable & Wireless and One.Tel.<br /><br />In a statement, Centrica announced that Weston has tendered his resignation, and that he is subject to 12 months notice. Sam Laidlaw, Chief Executive of Centrica, said, ""Chris has made an important contribution to Centrica over 11 years, leading a number of our businesses, in the UK and North America. We will be sorry to see him leave but recognise that Aggreko offers a great opportunity for him.""<br /><br />Commenting on the management changes, Aggreko Chairman Ken Hanna said, ""Chris brings senior experience of the energy industry and proven leadership skills in a large international business. He has consistently succeeded in driving performance and growth in his career and we believe he has the skills and vision to continue Aggreko's growth and lead the Group to the next level.""<br /><br />Aggreko's new CFO Cran joined the firm in 2004 and has worked closely with Cockburn as Group Financial Controller and more recently as Director of Finance. She was appointed interim Chief Financial Officer in March 2014, following Soames' departure as CEO.<br /><br />In London, Aggreko shares are losing 49 pence or 2.80 percent, and trading at 1,700 pence.<br /><br />Centrica is currently trading at 330.34 pence, down 0.46 pence or 0.14 percent.<br />