Centrica chief 's role worries investors

INDUSTRIALIST Sir Roy Gardner faces questions from big City investors over his roles as chairman of Manchester United and chief executive of Centrica.

Shareholders are not criticising his conduct at the controversy-ridden football club. But some fear Gardner may be taking his eye off the ball at his main job running utilities giant Centrica, owner of British Gas and the AA.

One large Centrica investor said: 'Chief executives of listed companies shouldn't be chairmen of other listed companies, simply because of the potential for severe distraction.

'It's been an embarrassment from the day he accepted the job.'

With a market value of £8.5bn, Centrica is more than 10 times bigger than Manchester United and shareholders believe it should take precedence.

Investors are critical of Centrica's non-executive directors for allowing Sir Roy to take the job in the first place.

The football club has been battling on several fronts. Two big investors - Cubic Expression and the American Malcolm Glazer - have been building stakes.

John Magnier and JP McManus, the Irish tycoons behind Cubic Expression, have forced an internal review of Man U's player transfer deals. They are the biggest shareholders with 25%.

Centrica said Gardner spends no more than two days a month on Man U business. He relinquished a directorship at chemical firm Laporte when he took the chair at the club.