Utility company Hydro Tasmania has announced that Steve Davy will take over as chief executive officer effective immediately, having served in an interim role since June 30.
Davy, who has been with Hydro Tasmania since 2005 and previously served as the company's chief commercial officer, was named acting CEO following Roy Adair's decision to leave the utility in June 28.
"He was selected from a very talented pool of internal and external candidates after an extensive process undertaken by the board," Hydro Tasmania chair Dr. David Crean said. "The board believes he was the best choice, in particular to handle the many complex issues and regulatory risks presented by the current national market in which we operate."
Crean credits Davy with helping guide Hydro Tasmania's commercial operations toward becoming an "integrated energy business", while overseeing its operations that include mainland retailing, contract and spot trading, major customer negotiations, supplier arrangements and operational activities.
"On behalf of the board, I look forward to working with Steve and his executive team as the business enters another exciting and challenging period in its 100-year history," Crean said.
Before coming to Hydro Tasmania, Davy managed contract trading at Eraring Energy in New South Wales, and served as senior vice president at Bankers Trust Australia in the 1990s.
Davy is currently chair of Hydro Tasmania's Momentum Energy, and has previously served as chair of the Australia Financial Markets Association Environmental Products Committee. He is also the representative for generators on the National Electricity Market's Reliability Panel.
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