Stanwell Corporation’s respected CEO Michael O’Rourke has stepped down as chief executive after almost 30 years with the company, in what appears to be a Board decision to replace him.
In a statement, the state-owned corporation said, “Queensland’s energy sector is undergoing significant change which requires a fresh approach. As part of this renewal, the Board has formed the view that now is the right time for a leadership transition.”
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O’Rourke’s departure comes on the heels of CS Energy CEO Brian Gillespie resigning in March this year, with Stephen Harty recently announced as his replacement.
Stanwell chair Justin Parer said, “Michael has played an important role in guiding Stanwell through a period of considerable change, strengthening the business and helping position it for the future.
“On behalf of the Board, I sincerely thank Michael for his dedication and leadership and extend our full support and best wishes for the future.”
Stanwell chief operating officer James Oliver has been appointed acting CEO while the process to appoint O’Rourke’s permanent replacement is undertaken.
Queensland Treasurer and Energy Minister David Janetzki also had words of praise to share for O’Rourke.
“Michael is a highly regarded figure in the energy sector and has made a significant contribution to Stanwell and the Queensland energy sector through the various leadership roles he has held,” Janetzki said.
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“I wish Michael every success in his future endeavours and know he will be missed.”
