Ausgrid’s Board of Directors has appointed a new Chief Executive Officer, to take effect immediately.
New CEO, Richard Gross, who was an advisor to AustralianSuper and IFM Investors on their Ausgrid investment, has extensive experience in the energy sector, its infrastructure and operations and the regulatory environment.
The board will also be led by independent Chairman Peter Magarry following AustralianSuper and IFM Investors’ acquisition of a 50.4 per cent interest in the long-term lease of Ausgrid.
“Richard has the depth and breadth of experience we need to take Ausgrid forward into our new era,” Mr Magarry said.
“He has a track record in completing business transformations which have benefited customers and investors alike. He understands the regulatory environment and sees tremendous potential in the company and its future.”
Mr Gross said Ausgrid clearly had underlying strengths that attracted AustralianSuper and IFM Investors to invest in the business.
“I want to build on the many strengths of the business, including the deep technical expertise of its people and their commitment to great customer service and safety.
“There are also real opportunities for sustainable growth through taking advantage of developments in network services technology, regulation and increased customer engagement.
“I am also pleased to advise that Ausgrid’s Interim Chief Executive Officer Trevor Armstrong will continue in the business in the newly created role of Chief Operating Officer.”
Mr Gross has held senior roles in Powercor and CitiPower since 2009, including General Manager Strategy and General Manager Regulation and Business Development.
He is a former CEO of Wellington Electricity and Manager Economic Regulations for Melbourne Water.
He holds a Masters of Commerce in Economics and Finance, a Bachelor of Agricultural Science and a Graduate Diploma in Agricultural Economics. He attended the Harvard Advanced Management Program in 2011.