Tony Quinlan succeeds Gordon Boyd, who resigned in March after the group
announced it had suffered a 16% drop in pre-tax profit to £439m for 2007.
Quinlan is new to the power industry having spent his career so far at Marks
& Spencer. He joins at a crucial time politically as well as financially for
Drax, as some analysts think the company is at risk from rising costs if the
government obliges UK utilities to help ease the rising cost of energy to the
consumer this winter.
Boyd was an energy business expert when he joined Drax having served as FD
for British Energy arm, BE Generation, and led the group’s financial
Quinlan spent 16 years with M&S in various finance roles and before
becoming director of financial control, was noted for having established the
company’s investor relations department. Drax chairman Charles Berry welcomed
Quinlan’s “commercial” attitude to plc finance.