Lough, who was previously chief financial officer of Hurricane Hydrocarbons of Canada, has been finance director since late 2001.
British Energy only narrowly avoided going into administration last week after a deal was reached with banks and bondholders to keep the troubled firm, which provides a fifth of the UK’s electricity needs, out of administration.
The complicated package, which still has to be approved by the European competition authorities, will leave shareholders with just a fraction of the company.
In June British Energy announced losses of £4.3bn after slashing the value of its power plants.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements