DCC announces leadership changes

(Sharecast News) - DCC announced a series of senior leadership changes on Wednesday, aimed at aligning its management structure with its strategic focus on the energy sector, as outlined in its November update. The FTSE 100 company said Kevin Lucey, currently chief financial officer and an executive director since 2020, would assume the newly-created role of chief operating officer following the annual general meeting on 10 July.

In the position, Lucey would continue to work closely with chief executive Donal Murphy, taking responsibility for the performance of DCC's energy operations under the 'Cleaner Energy in Your Power' strategy.

He would also oversee the group's regional management teams while remaining on the Board.

Conor Murphy, currently chief financial officer of DCC Energy, would succeed Lucey as group CFO and join the board as an executive director from the same date.

Murphy, who joined DCC in 1998, has held a number of senior roles across the Group, including director of group finance.

He qualified as a chartered accountant with KPMG in Dublin.

Separately, DCC Energy CEO Fabian Ziegler would step down in July, having joined the group in 2022.

"We announced decisive actions in November to simplify our group, pursue our largest growth and returns opportunity in energy and unlock substantial shareholder value," said chief executive officer Donal Murphy.

"In the energy sector we are building a unique, multi-energy, sustainable business.

"Our new leadership team has extensive experience in the energy sector and the commercial agility and drive to build DCC into a global energy leader."

Murphy said the firm would also drive the growth and development of the healthcare and technology divisions while they remain part of the group.

At 0916 BST, shares in DCC were down 2.59% at 4,592p.

Reporting by Josh White for Sharecast.com.