Origin Energy announced October 3 that Kevin McCann will retire as chairman and director after the company's annual general meeting on October 23. The board has elected Gordon Cairns to succeed McCann as the chairman of the board of directors. McCann has been the chairman since Origin listed on the ASX in 2000.
"It has been a great privilege and honor to have been the Chairman of Origin and to have had the opportunity to preside over the growth of the company during the past thirteen and a half years,” McCann said. "When I was first elected as Chairman of the Board in 2000, Origin had a market capitalization of around $900 million. Today, as a top 20 ASX listed corporate, Origin is the leading Australian and New Zealand integrated energy company with a market capitalization of $15.8 billion."
Cairns joined the board of Origin in June 2007. He is a member of the company's Remuneration, Risk, Nomination and Health, Safety and Environment committees and is also chairman of the Origin Foundation.
"On behalf of the board, I would like to thank Kevin for his leadership in taking Origin from its humble beginnings to where it is today,” Cairns said. "It's an honor that the board has asked me to succeed Kevin and I am looking forward to the opportunity to continue to work with the Board, Grant King and his management team to realize the next phase of development for the Company," Cairns said.
Cairns is currently a director of Westpac Banking Corporation and World Education Australia. He is Chairman of Quick Service Restaurant Group and also a senior advisor to McKinsey & Company and Greenhill & Co. He was previously Chairman of Rebel Group and a Director of The Centre for Independent Studies.
Cairns is due to retire by rotation at this year's AGM, so his appointment will be subject to his reappointment by shareholders as a director of the company.
Pictured is Kevin McCann, courtesy Origin.
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