Origin has announced the appointment of Mr Frank Calabria – currently CEO of the company’s Energy Markets Business – to the position of Managing Director and CEO, effective 19 October 2016.
Mr Calabria will replace outgoing CEO Grant King, who will step down from his role and retire from the Company at the end of October.
Origin’s Chairman Gordon Cairns said the company had been preparing for Mr King’s departure for “some time.”
“The past year has been a transitional one for Origin with good progress made on debt reduction following last year’s fall in oil price,” he said.
“We are also expecting completion of APLNG’s LNG project in the next few months. With good progress on these to important priorities it is now an appropriate time for change of leadership at Origin.”
Mr Calabria joined Origin as SFO in 2001 and was appointed CEO of the Energy Markets Business in 2009. He has a Bachelor of Economics from Macquarie University and a Master of Business Administration from the Australian Graduate School of Management. He is also a fellow of the Institute of Chartered Accountants of Australia and a Fellow of the Financial Services Institute of Australasia.
Commenting on his appointment, Mr Calabria said:
“It is a great honour to lead Origin. This is an important Australian company with a strong future. The issues are clear: cut debt and improve performance,” he said.
“This twin focus will improve returns for shareholders and position us to drive medium term growth in a rapidly changing energy market, while delivering on the potential for the major investment that has been made in APLNG.”