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TheStreet Open House

Direct Energy Restructures Company To Lead In The Next Decade And Beyond

Stocks in this article: CNA

HOUSTON, March 27, 2014 /PRNewswire/ -- Direct Energy announces changes to its leadership structure to better position the company for further growth and investment. The restructuring enables the organization to meet the future needs of its customers through increased emphasis on innovative products and technologies across North America. With last year's acquisitions of Hess' Energy Marketing business, Bounce Energy, and AWHR, Direct Energy is a leading competitive supplier of commercial and industrial gas and power, and is the largest residential power, gas, and energy services company in North America.

Direct Energy Logo.

"The market landscape is changing as it adapts to a new normal and we need to evolve in order to retain, attract, and engage customers and meet their needs," said Badar Khan, president and CEO of Direct Energy. "This means we need to shift our priorities to improve efficiency in our operations and support greater innovation and differentiation of our offers."

Steven Murray has been named Direct Energy's chief operating officer (COO) with responsibility for back office operations, procurement, information technology, and the company's call centers. Murray is charged with achieving industry-leading consolidated operations and IT processes and functions. Previously, he served as president of Direct Energy Residential.

Manu Asthana replaces Murray as president of Direct Energy Residential and is overseeing the company's strategic focus on innovation and brand differentiation. Prior to his new role, Asthana held the position of head of upstream and supply and trading.

Scott Boose, president of Direct Energy Services, will maintain his current role overseeing the largest home services provider in North America in the HVAC, plumbing, and electrical industries, with a focus on a wide range of services including offering protection plans through the new Home Comfort Collection and leasing of water heaters and HVAC equipment. Direct Energy's health, safety, and environment teams across the company will now report to Boose.

With the completion of Direct Energy's acquisition of Hess' Energy Marketing business, John Schultz is now president of Direct Energy Business with oversight of Direct Energy's commercial and industrial and supply and trading businesses, as well as the former energy marketing business of Hess. Prior to his new role, Schultz served as head of east region for Direct Energy Business.

Murray, Asthana, Boose, and Schultz will continue to report to Khan. Carol Graebner, executive vice president and general counsel, Melinda Reeves, executive vice president, human resources and internal communications, and Andrew Sunderman, chief financial officer, will continue in their current roles reporting to Khan.

About Direct Energy

Direct Energy is one of North America's largest energy and energy-related services providers with over six million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world's leading integrated energy companies, Direct Energy operates in 46 states plus DC and 10 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.

Logo - http://photos.prnewswire.com/prnh/20121004/MM87276LOGO

SOURCE Direct Energy

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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