Drax Group Plc
DRX:LN
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Overview
Company Profile
Drax owns and operates the Drax Power Station, the UK's largest coal-fired power station based in North Yorkshire. The group's main activity is operating the station and the trading of electricity produced.
Classification
Financials
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Corporate
Board of Directors
Phil Cox CBE
Chairman
Appointment to the Board: 1 January 2015. Committee membership: Nominations (Chairman) and Remuneration. External appointments: A non-executive director, Senior independent Director and Audit Committee Chairman of Wm Morrison Supermarkets PLC and a non-executive director of Talen Energy Corporation, a US-listed energy utility company. Previous experience: Phil was previously Chief Executive Officer, International Power plc; Senior Vice President, Operational Planning, Ivensys plc; Finance Director of Siebe PLC. He has also previously been a non-executive director of Meggitt PLC, of PPL Corporation (a US listed company) and a non-executive director and Chairman of Audit Committee of Wincanton plc. Qualifications: MA in Geography. Fellow of the Institute of Chartered Accountants in England and Wales (FCA). Responsibilities and skills: Phil has significant board experience in both executive and non-executive capacities, and importantly extensive experience in the power sector.
Dorothy Thompson CBE
Chief Executive
Appointment to the Board: 20 October 2005, having joined Drax in September 2005. Committee membership: Executive. External appointments: A non-executive director of Johnson Matthey plc and a non-executive director of the Court of the Bank of England. Previous experience: Dorothy was previously the head of the European business of InterGen NV, the power generation subsidiary of Shell NV and Bechtel Inc., responsible for the management and operation of four gas-fired power plants, totalling some 3,160MW of capacity across the UK and the Netherlands. Prior to joining InterGen NV in 1998, Dorothy was initially in banking and subsequently was assistant group treasurer for Powergen plc. Qualifications: BSc (Hons) and MSc in Economics. Responsibilities and skills: As Chief Executive, Dorothy is responsible for all aspects of the stewardship of the Group and its business, including developing an appropriate business strategy for Board approval and securing its timely and effective implementation. She provides leadership to the executive team and takes responsibility for the important external relationships with customers, suppliers, regulatory agencies and Government bodies.
Peter Bennell
Chief Executive, Haven Power
Committee membership: Group Executive Board, Haven Power Board. External appointments: None. Previous experience: Peter provides an enviable level of experience thanks to his previous senior positions within Eastern Electricity, TXU and as an independent consultant. Qualifications: MA in Engineering, Chartered Engineer, Member of the Institution of Engineering and Technology, Member of the Chartered Institute of Marketing. Responsibilities and skills: Peter founded Haven Power in 2006 and has been instrumental in the company\'s entry into the Industrial and Commercial market, and the development of the business. As Chief Executive, Peter continues to drive the substantial growth of Haven Power in the highly competitive electricity supply market, providing the Group with a credit-efficient route for its power. Peter is also responsible for Billington Bioenergy.
Tim Cobbold
Independent non-executive director
Appointment to the Board: 27 September 2010. Committee membership: Audit, Nominations and Remuneration. External appointments: Chief Executive of UBM Plc. Previous experience: Tim was the Chief Executive and an Executive Director of De La Rue plc, and prior to this was the Chief Executive Officer of Chloride Group plc. Following Emerson Electric’s takeover of Chloride he held a senior position in Emerson, responsible for the Chloride Group of companies. He trained as a Mechanical Engineer and qualified as a Chartered Accountant in 1987 and joined Smiths Group plc (formerly TI Group plc) in 1989 where he held a number of senior financial and operational management positions over an 18 year period. Qualifications: BSc (Hons) in Mechanical Engineering and a Fellow of the Institute of Chartered Accountants in England and Wales (FCA). Responsibilities and skills: Tim’s blend of financial and engineering experience means that he is well placed to contribute significantly to the Board and its Committees. His role as an active Chief Executive in a different sector adds an alternative dimension to his contribution
Peter Emery
Group Operations Director
Committee membership: Group Executive Board. External appointments: A non-executive director of NG Bailey Limited. A member of The Energy Research Partnership. Previous experience: Peter joined Esso Petroleum upon leaving university and held a number of analyst and managerial roles in the UK before moving to Esso’s parent, Exxon in the US to co-ordinate its downstream marketing and distribution investments outside North America and Canada. Peter returned to Esso’s Fawley Oil Refinery in 1992 as plant technical services manager. In 1997, he became refinery maintenance manager and in 2002, he was appointed operations manager with full management and operational responsibility for Fawley Oil Refinery, the UK’s largest refinery. He was also a member of ExxonMobil’s European leadership team for refining. Qualifications: BSc (Hons) in Mining Engineering, Fellow of the Institute of Materials, Minerals and Mining (FMIMM) and completed the Advanced Management Programme at INSEAD in 2007. Responsibilities and skills: As Group Operations Director, Peter oversees operational excellence across the Group. He has overall responsibility for the operation of the Group’s plant and equipment in the US and UK, including all aspects of safety management, plant integrity, plant operations, engineering support, maintenance and plant design. Peter also has responsibility for the development and execution of major strategic projects, our Group HR and Group IT functions, as well as leading the Company’s carbon capture and storage activity.
Melanie Gee
Independent non-executive director
Appointment to the Board: 1 January 2013 Committee membership: Audit, Nominations and Remuneration. External appointments: A senior adviser to Lazard & Co. Limited and a non-executive director of The Weir Group PLC. Previous experience: Melanie joined Lazard & Co. Limited in 2008 as a Managing Director and became a Senior Adviser at the end of 2012. Prior to that, she was at UBS Investment Bank (1982 to 2007), where she held a number of senior positions in Corporate Finance. Melanie was an alternate member of The Takeover Panel between 2006 and 2013. Qualifications: MA in Mathematics. Responsibilities and skills: Melanie’s blend of financial and corporate experience means that she is well placed to contribute significantly to the Board and its Committees. Her advisory role in a City firm brings added insight to the Board.
Andy Koss
Chief Executive, Drax Power
Committee membership: Group Executive Board. External appointments: None. Previous experience: Prior to joining Drax, Andy was Deputy Group Treasurer at Provident Financial plc. Andy originally qualified as a Chartered Accountant with Coopers & Lybrand (now PwC) and has worked in various investment banking roles at Lehmans, UBS and Dresdner Kleinwort Benson. Qualifications: BSc (Hons) degree in Maths, Operational Research, Statistics and Economics, ACA, MCT. Responsibilities and skills: Andy joined Drax in 2005 as Group Treasurer to lead the refinancing work as part of Drax’s listing. He has helped lead the Group through many changes, holding a number of senior positions within the finance department and then most recently as Director of Strategy. Andy has also sat on the Boards of Haven Power and Capture Power, the joint venture company developing the White Rose CCS project. As Chief Executive of Drax Power, Andy now has responsibility for managing the power station and running the power generation business unit.
David Lindsell
Independent non-executive director
Appointment to the Board: 1 December 2008. Committee membership: Audit (Chairman), Nominations and Remuneration. External appointments: A non-executive director of Premier Oil plc and HellermannTyton Group PLC. Previous experience: David was a partner at Ernst & Young for nearly 30 years. He specialised in audit and assurance services and has extensive experience across a range of industry sectors. He was Deputy Chairman of the Financial Reporting Review Panel from 2008 to 2012 and has served on a number of professional bodies relating to financial reporting, including the IFRS Advisory Council, the Auditing Practices Board, the Turnbull Committee and the European Financial Reporting Advisory Group. Qualifications: Fellow of the Institute of Chartered Accountants in England and Wales (FCA). Responsibilities and skills: David’s recent and relevant experience in the areas of finance and audit are a significant asset to the Board and his role as Chairman of the Audit Committee.
Matthew Rivers
Director of Group Sustainability and Chairman, Drax Biomass Inc.
External appointments: Member of the Board of the US Industrial Pellet Association (USIPA). Previous experience: Matthew has previously been the Director, Energy Biomass and then Director, Overseas Wood & Biomass Sourcing at UPM in Finland. Prior to that Matthew was Managing Director of Forestal Oriental in Uruguay, responsible for plantation management and wood supply. Matthew has also been Managing Director, UPM Tilhill, the UK’s largest private sector forest management and timber harvesting business. Qualifications: BSc. (For) Hons, M.B.A. , FICFor, C.Env. Responsibilities and skills: As Director of Group Sustainability, Matthew is responsible for the Group’s sustainability policy and strategy. Additionally, Matthew is Chairman of the US business, Drax Biomass Inc., and has Group level responsibility for these upstream investment activities. Our activity in the US is growing rapidly as we complete our first pellet plants and port facility, and move to running a fully operational business.
Paul Taylor
Group Commercial Director
Committee membership: Group Executive Board. External appointments: None. Previous experience: Paul has more than 20 years\' experience in energy trading and was previously the Retail and Trading Director at Drax. Before joining Drax he worked for TXU Europe and Powergen/E.ON UK. At TXU Europe Paul led the UK electricity trading function responsible for trading a combined portfolio of over 7GW of power plant and a retail position of more than 50TWh. Before energy trading Paul worked in operational research. Qualifications: BSc (Hons) in Business Operation and Control Responsibilities and skills: As Group Commercial Director, Paul leads on our strategy and business development, helping to position the Group for future growth. He also has responsibility for the legal team and Group commercial optimisation - maximising value across the whole Group.
Tony Thorne
Independent non-executive director
Appointment to the Board: 29 June 2010. Committee membership: Audit, Nominations and Remuneration. External appointments: Chairman of the South East Coast Ambulance Service. Previous experience: Tony was Chief Executive of DS Smith plc, the international packaging and office products group, from 2001 until his retirement from the Board in May 2010. Previously he was President of SCA’s corrugated packaging business. Prior to this he spent 20 years with Shell International, working throughout the world in senior management roles, including strategic planning and President of the Shell companies in Mexico. Qualifications: BSc (Hons) in Agricultural Economics. Responsibilities and skills: Tony’s experience of operating in different geographical territories is of great importance as Drax considers expansion into global markets.
Michael Scott
Interim Group Finance Director
Committee membership: Group Executive Board. External appointments: None. Previous experience: Michael joined Drax in 2005 as Group Financial Controller to lead financial due diligence work as part of Drax\'s listing. He has supported the Group\'s development over the last ten years, holding a number of senior positions within the Finance department including Head of Investor Relations and Head of Corporate Finances. Prior to joining Drax, Michael was Group Financial Controller at Mettler Toledo International Inc. Michael originally qualified as a Chartered Accountant with Arthur Andersen. Qualifications: BA (Hons) degree in Industrial Economics and an Associate of the Institute of Chartered Accountants in England and Wales (ACA). Responsibilities and skills: As Interim Group Finance Director, Michael is responsible for the financial management of the Group and for relationships with the Group’s bankers. In addition to the Finance function, he has the Investor Relations, Risk Manageme - See more at: http://www.drax.com/about-us/corporate-governance/board-and-group-executive-board-members/michael-scott/#sthash.0L7XCd89.dpuf