Michael Scott

11 Royal Lodge Park

Belfast BT8 7YP
07973 896787
scottmpg1969@hotmail.com
A Decisive, Engaging, Proactive & Transformational Leader

PROFILE:
An executive with all-island transformational MD experience providing strategic, fiscal and operational
leadership in unique and challenging situations, within a deeply regulated environment. Significant record of
achievement including the growth of a greenfield gas infrastructure project into regulated infrastructure
network and retail regulated and non-regulated utility business.

Board Director with Semi-State and Private Equity experience. Highly skilled in strategic communications
including a strong track record of engaging with external senior stakeholders as well as influencing
government policy and strategy at the highest level. Specific experience in briefing cross party politicians on
energy strategy, Parliamentary representation to Fuel Poverty Committee at Westminster and appointed as
business representative at Westminster for economic and UK future energy needs information events.

EXPERIENCE:
 Transitioned business from semi-state to Private-Equity ownership. Significant stakeholder
management experience
 Executive Director and Non-Executive Director experience
 Secured significant asset value increase via Competition & Market Authority (CMA) referral
 Extensive economy knowledge to trend commodity movements which in turn enhanced Return on
Capital deployed
 Business Planning & Capex appraisals to underpin long-term (40 year) price control / business plan
determinations
 Key influencer in Energy Policy formation by bringing together key Renewable, Electricity and Gas
stakeholders. Oversaw entry into and subsequent exit from electricity market

ACHIEVEMENTS:
 A Strategic Thinker: Communicates clearly at all levels and is self-aware in both the board room as
well as operationally. Experienced in capital appraisal evaluations and as MD has transformed the
business culture from Semi-State to Private Equity
 Updated Company Strategy & Culture: Culture championing is at the heart of my approach, in my role
as MD. Sensitive to change and one who truly listens so that change is delivered via a coaching
management style
 Delivering Shareholder Value: Optimised capital investments via infrastructure extensions, working
closely with the board and all key stakeholders
 As MD reported directly to the Chairman and Board: Firmus energy has three Independent Non-
Executive Directors and the MD ensured the Board were made fully aware of all commercial and
strategic developments
 Chairman of Stepping Stones and Non-Executive Director of Anam Cara: Two charities, the first based
in NI to assist young adults with additional needs gain employment, the second to provide a support
network for bereaved parents, on an all-island basis. Recently appointed to Board of Action
Renewables
 PROFESSIONAL EXPERIENCE

Managing Director (2012 – December 2021)

Frequent and ongoing Board level exposure with Private Equity owners. The first of these, iCON, was a
medium-term investor with the current owner, Equitix, a UK based long-term investor. Transformed and
enhanced company strategy and focus following sale from Semi-State to Private Equity ownership.

Nurtured values culture with 120 direct employees as well as 150 Period Contract (indirect) staff. Implemented
“Right Size, Right Shape” efficiency improvement initiative – restructuring program. Kept Board fully appraised
throughout successful delivery of this strategic initiative.

Head of Business Development (2006 – 2012) – firmus energy

Responsible for business regulation, power and gas purchasing, systems development and customer
operations.

Provided regulatory and financial insights to improve operating results and optimise regulatory contracts. Re-
mapped internal procedures and controls.

Other Roles:
Phoenix Natural Gas (1996 – 2006):

 Senior Business Analyst – key responsibility for regulatory analysis and business plan submissions.
Interestingly, at the same time I was also on-call “out of hours” Manager
 Asset Manager – led team in asset maintenance and third-party asset protection. Project Manager for
IT project - successful 2-year implementation

British Gas (1993 – 1996):

 North Thames – Geographical Information System analyst – Vincent Street, London

 Project lead for Northern Ireland gas asset feasibility study – Staines, Middlesex

EDUCATION & AFFILIATIONS:

 Economics Honours – Queens University Belfast
 Institute of Leadership & Management – Queens University Belfast

 Executive Director – 4 companies within Firmus Energy Group – Gas Infrastructure & Supply

 Member of Institute of Directors - IOD

 Member of IGEM (Institute of Gas Engineers & Managers)
 Former member of Chamber of Commerce NI

 Chairman – Stepping Stones

 Non-Executive Director – Action Renewables & Anam Cara

 Vistage Executive Coaching Forum – Member of the Year – 2019

INTERESTS:
Walking / Trekking as well as having a lifelong interest in Classic & Performance cars
 Experience + 3 examples of each

 Rationale for retiring:

o Long time as MD
o Split activities 3 ways
 Consulting
 Charity work
 Family
o Quite a lot to offer with the extensive experience I possess
 Projects:
o CMA – Macquarie advisors. Capital, GIS & Rate of Return on under-recoveries
o Change of Ownership
o Right Size / Right Shape
 Communication:
o Regulatory negotiations
o Refinancing business – 3 banks
o Internally as part of change of ownership process
 Approach (Coaching)
o Decisive
o Engaging
o Proactive
 Innovation:
o Prepayment meters without % threshold and no premium – unique in UK
o PE pipe for hydrogen DNVGL
o 3 DNOs in energy strategy response to Dfe
 Strategy:
o Volume driver to connections driver. Adopt changes for domestic inc. NISEP incentives
o Rollout to 10 additional areas
o Re-enforcement (loops) of network in GD23
 Cultural Transformation:
o Values rewards programme
o Add teamwork to 3 existing values – continuous improvement
o Move from Belfast supply focus to new connections focus – see RSRS
 Corporate Culture:
o Values updated
o Purpose defined – “taking natural gas further” to “towards a net zero economy”
o Strategy day with UR / DfE / CC
 Transparent:
o CMA to UR CEO – difficult conversation
o Business Sale process
o DfE re: energy strategy on consumer workstream
 Leadership:
o Succession Plan in place
o Kate Marshall on taking responsibility (4th Teamwork value)
o Open Questions (anonymous) at Company briefings – x3 each year
 Vision:
o WIN – acronym for network business
o ONE – acronym retail / supply business
o As well as Vision and Mission, defined Purpose – agreed via consultation
 Mentor:
o One-to-ones
o Succession Plan – fully consulted with Board and Executive team
o Board exposure for all managers and staff – timetable of annual activities
 Public image:
o PR training
o “Face up” when tariffs increased
o Energy Ireland forum – market competition
 Corporate leadership – “walk the walk”:
o Executive on Board
o NED in Action Renewables
o Review Board governance annually – governance register
 Handling difficult situations:
o 2-year price control process
o Maintained relationships in very difficult work stream
o CMA – travelled into London with UR CEO – Reset relationship with regulatory authorities
 Consensus-building skills:
o Values question at interview- question candidates’ view
o Used expert recruiters for senior positions
o Keep it simple, facts and figures tell the story, but not as way to prove how clever we are
 My personal Weaknesses:
o Balancing lots of things
o Peer reviews
o Got this from Vistage membership – 2019 member of the year
 Hiring strategy:
o Values
o Consider where we are going
o Remember, candidates will present to board/customers/stakeholders
 In my absence
o Delegate – explain and check in /don’t walk away
o Teamwork – pulling together as part of our values
o Define who is accountable when on leave – consult and confirm to everyone
 I am Decisive – Maintained focus at Competition Commission settlement
I am Engaging – Met quarterly UR CEO. Twice annually with DfE & CCNI & with NIHE CEO –
Clark Bailie & Grainne Long
I am Proactive – Undertook cultural review. Embedded teamwork in values and RACI
Responsible “do” the work, Accountable “own” the work

Leadership:

I have extensive boardroom experience. Most notably by ensuring collaboration between all key stakeholders,
2 examples

1. Situation: Post Board approval to proceed, represented the business at Competition Commission in
London – 17/18

Task: Following detailed analysis outlined the errors made by the Regulatory Authority having challenged the
management team and recognising differing views being valued

Action: Set out our corporate vision and the improvement that was needed in the business. Engaged Frontier
Economics, Defined technical errors and presented at Competition Commission having managed extremely
challenging conversations between Board, management team and regulatory and government officials as
there were multiple views to be negotiated. I was resilient and demonstrated the long term economic and
customer benefits by referring case to competition and markets authority.

Result: Compromised settlement following collaboration with stakeholders and regulatory authorities, lesser
targets in lieu of 10-year licence extension – planned 30 to 40 years

2. Situation: Strategy - Work asset, Infill, New areas-10. ONE - Optimise NC, understand NC, Effect RoI.
Boardroom expertise defining the company culture, business long term improvement and setting the
purpose and vision for the organisation.

Task: Recognised changing landscape, vol to connections, focus connections NOT customers, seek incentives

Action: Communicated with Board. Agreed with Board at Strategy Day, communicated to business

Result: Uplift at next price control – in line with longer term owner ambitions and supporting net zero

Governance:

I have detailed operation and practical experience of corporate governance. I have worked in the public sector
(semi-state), private sector with private equity owners and with in the third sector in both charities and social
enterprises.

Situation: Executive Board member of 4 group companies and I have a full and detailed knowledge and
appreciation of corporate governance. Experience of the public sector having been owned by a semi-state,
then transitioned the business to private equity then to long term pension fund management. Also initiated
the concept of business case for projects such a Foyle River Crossing for a £3m infrastructure reinforcement
that demonstrated value for money and a return on capital deployed as well as a rate of return on the
investment of 4.32%. Risk management and controls to manage finance, resource and I have a detailed and
passionate understanding of probity in my work and personal life.

Task: Governance training along with Vistage colleagues and embedded a risk management culture to protect
investments, systems and people management. Robust systems and controls which were refreshed from to
facilitate ongoing protection of investments and public perception. More analysis as private equity ownership
which was robust but which was developed further.
Action: Refreshed Board, Articles of Association, Sustainability Committee in line with government strategy.
Have worked within the charity sector as Chairman to enhance Articles of Association and embedded board
participation at all levels. Instigated committees to harness more ownership and business case proposals to be
presented before board prior to any strategic decision. Resource and financial performance undertaken by
right size, right shape initiative as well as refreshing board reporting. Known for being a values driven leader
and have probity in my heart as I have also initiated a “values culture” within Action Renewables. Undertook
RACI (responsible, accountable, consulted and informed initiative to ensure the entire business understood
everyone’s responsibility.

Result: New board, Strategy day = 3 key stakeholders, Strategy dinner enabled debate and strategic discussion
and I updated the culture in the business by considering the accountability at all levels in the organisation.

Strategic Planning:

I have influenced policy and can demonstrate several examples of updating key strategic drivers, for
instance......

Situation: Transitioned business from semi state to PE. Focus on investment return (no under-recoveries). Was
able to influence policy by demonstrating to the Utility Regulator that licence should be updated from gas
volumes to gas connections. I understand and the key strategic drivers of capital expenditure, operational cost
control, revenue return and value for money.

Task: Set vision and directions for several businesses. Harnessed an enabling culture that brought with it a “can
do” attitude and a feeling by staff that they were empowered and their views had a forum to be heard.
Transitioned from PE to Equitix, a longer term investment horizon of 25 years as well we much more of a green
focus – AD and Grid Injection. Maintaining an enabling culture by setting vision for the future. Brought
together the key energy players in electricity, gas, renewables as well as consumer representative bodies. Set
realistic targets and monitored performance by refreshing the level of detail with in the management accounts
and board reports.

Action: Transitioned business from volume to connections driver (no IC grants). Updated analysis and reporting
to set out detailed and realistic objectives for the business as well as 5 key tasks for each of the executive
team. Monitored performance via monthly one-to-ones with each executive team member, a monthly
management forum to discuss progress and a mid-year business review with each director.

Result: Right size/right shape. Same number, different focus and some “exits”. 10 additional areas / Lower
RoR. Identify key underlying issues to be documented and monitored with a plan of action to be agreed.

Analytical thinking & decision making:

Able to analyse complex information, data and analysis, considered options, risk and opportunities to be taken
forward.

Situation: Throughout my career, my interest has been in “the Numbers”, then Process and finally People
although I have especially enjoyed people and talent development in recent years.

Task: Brought about performance management culture, from high level Balanced Scorecards to a more defined
set of targets to then streamline a distinct set of (5) targets. Initiated company briefing (especially at sale time
– monthly), SMT and monthly management meetings where I would only outline summary at the end. Enabled
a culture of making timely decisions, sub-committee board meetings to help propel decision-making. This
helped to widen staff exposure to the board and vice-versa.

Action: I was the Senior Business Analyst within Phoenix Energy. I moved to firmus energy as Regulatory
Manager and was responsible for price control submissions from both a networks, capital investment, system
reinforcement and operational cost control and commodity pricing perspective. This involved assessing
complex analytical information, bringing forward options and recommendations, recognising the net zero
opportunities for the future.

Result: Decisions and recommendations were made on the basis of analysis, experience and knowledge of the
economy, key drivers and policy decisions that had been made, for instance, with the NIHE “offer gas where
gas was available”, but the business case needed to be robust and I met with the CEO of NIHE to outline the
business case.

Delegated Chairmanship to Sales, Marketing and Customer Services Director, Long Service Awards, Values
Champion, summer BBQ, strategy briefing and away-day, Blue Sky strategy session at my home for SMT each
year. I was also invited to attend management strategy sessions which I was particularly proud of.

Experience collaborating with economic stakeholders I have a ongoing appreciation of the strengths and
weaknesses of the NI economy. I feel personalities are extremely important in a small open economy like NI
but this can really help to propel the economy and we could help to propel innovation such as net zero public
vehicles and be a fast follower for hydrogen economy.

--------------------------------------------

Understanding Management & Economic Drivers:

Situation: I have a broad understanding of management and economic drivers. I have undertaken Vistage
training to develop my management skills and regularly attend Institute of Directors briefings and dinners to
debate about the wider economy. I keep abreast of the strengths and weaknesses of the NI economy and
understand Foreign Direct Investment. Facilitated relationships with openness, honesty and transparency by
facilitating site visits and face-to-face government official meetings using influencing and diplomatic skills
resulting a successful track record of achievement by enhancing strategy, innovation projects, increasing
investment multiples and bringing long-term career opportunities for our young adults having mentored at
local schools colleges.

Task: I understand the key drivers of growth in a small open economy like Northern Ireland and I fully
recognise the balance of foreign direct investment and supporting indigenous business by securing licence
extensions requiring many millions of investment to build a network infrastructure to moving away from
incentives to business and homes investing directly in conversion programmes. I headed up the team who
secured £millions of Northern Ireland Sustainability Project funding for conversion programmes. This involved
collaboration with Northern Ireland Electricity, Energy Saving Trust, Bryson Energy and forging and forging
relationships with National Energy Action, Housing Associations, Carbon trust.

Action: I have a successful track record, not only in energy, but also regarding feasibility studies for pipeline
storage (Inventory Product) to prove the concept of buying commodity when prices tend to be higher during
the weekend and extracting during the working week when energy prices tend to be higher.

Results: Strong relationships with investment bank community as well as local MLA and Council (providing
regular briefing to council and business at Stormont) confident in the board room and have listening ear and
eyes wide open to spot trends and initiate change.