Change afoot at Hydro Tasmania

Hydro Tasmania’s CEO Roy Adair is leaving the business following the completed transfer of Tamar Valley Power Station to Hydro Tasmania as a material element of the government’s electricity industry reform process.

Chairman David Crean said Mr Adair and the Hydro Tasmania Board had agreed the time was right for a change to take the business through its next phase and to provide long-term stability to the organisation.

“In his three years at the helm of Hydro Tasmania, Roy has led the business to record levels of profit and raised the level of performance such that it is well-placed to deal with the many challenges ahead,” Dr Crean said.

“Roy leaves a legacy of a well-run business, having steered Hydro Tasmania through the Expert Panel Review and the electricity reform implementation process, as well as making significant progress in achieving our key strategic goals as an integrated energy player in the National Electricity Market.

“As CEO, Roy has presided over some significant events that have changed the face of Hydro Tasmania, including a profit of over $100 million in both of the last two years. The business is on track to double that annual profit this financial year.”

Dr Crean said the board had established a process to appoint a new CEO, which is expected to take up to two months to complete.

In the meantime, Stephen Davy is acting CEO until a permanent replacement has been selected.