UK utility Centrica has revealed plans to exit the upstream oil and gas business as it focuses on “helping our customers transition to a lower-carbon future." Centrica also announced that CEO Iain Conn will step down next year after the company cut its dividend following a steep fall in first-half earnings. Conn, a former BP downstream executive, had been under mounting pressure from investors to step down. He said he had agreed to leave by next year’s annual general meeting.
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