The chief executive officer of one of the country’s largest power companies has announced he will step down.
Richard McIndoe will resign as the head of EnergyAustralia to take up the position of chairman with an unnamed energy company in Hong Kong.
Mr McIndoe, worked as EnergyAustralia’s managing director for almost eight years and said he will remain with the company until June 2014 to ensure his successors’ smooth transition.
As well as an energy retailer, EnergyAustralia has a stake in Yallourn Power Station and coal mine in Victoria as well as a number of power stations across Australia.
EnergyAustralia chairman Graham Bradley said Mr McIndoe’s long service left an indelible print on the company.
“Richard has played a formative role in the creation of EnergyAustralia during his term as managing director and we are all indebted to him for his achievements,” Mr Bradley said, as reported by The Sydney Morning Herald.