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APA GROUP — Board/Management Information 2019
Dec 19, 2019
64398_rns_2019-12-19_9083cc56-cbc8-4b90-acf7-0bdd96d8e58e.pdf
Board/Management Information
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Australian Pipeline Ltd ACN 091 344 704 | Australian Pipeline Trust ARSN 091 678 778 | APT Investment Trust ARSN 115 585 441 Level 25, 580 George Street Sydney NSW 2000 | PO Box R41 Royal Exchange NSW 1225 Phone +61 2 9693 0000 | Fax +61 2 9693 0093 APA Group | apa.com.au
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20 December 2019
ASX ANNOUNCEMENT
APA Group (ASX: APA)
APA Group’s CFO Peter Fredricson to Retire in 2020
APA Group CEO and Managing Director Rob Wheals has today announced that APA’s long standing Chief Financial Officer, Peter Fredricson, has indicated his intention to retire.
In the interests of an orderly and smooth transition to a new CFO, Mr Fredricson will remain with the Company until December 2020, at the latest, with the aim of supporting the new CFO during the transition period.
Mr Wheals said: “Peter has made a huge contribution to APA since he joined in 2009. He has overseen all of APA’s key acquisitions and capital raisings in that time, helping to take APA from $1.3 billion market cap in June 2009 to $13.7 billion market cap as of today. Peter was instrumental in APA achieving BBB and Baa2 credit ratings in 2009 and 2010 respectively.
“Peter’s relentless focus on maintaining a strong balance sheet and efficient cost of capital has been a significant contributor to enabling APA’s growth over this period.
“APA’s acknowledged financial track record of year-on-year EBITDA and distribution growth are testament to Peter’s meaningful contribution both as part of the Executive team and as CFO.”
Mr Wheals concluded: “That’s a record anyone should be proud of and Peter will leave having helped APA achieve an unrivalled position as Australian’s leading energy infrastructure business.”
Mr Fredricson noted: “I’ve very much enjoyed the last 10 years of my career helping build APA into the $23 billion Enterprise Value business that it is today. I am looking forward to a new stage to end out my career and post completing my obligations with APA. I will certainly look forward to Rob and his team taking APA to even greater heights”.
APA will commence a search for a new CFO in early 2020.
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Nevenka Codevelle Company Secretary Australian Pipeline Limited
For further information, please contact:
Investor enquiries: Jennifer Blake
Media enquiries: Louise Watson
Group Head of Investor Relations Media Adviser Telephone: +61 2 9693 0097 Telephone: +61 2 8011 0591 Mob: +61 455 071 006 Mob: +61 419 185 674 Email: [email protected] Email: [email protected]
About APA Group (APA)
APA is a leading Australian energy infrastructure business, owning and/or operating in excess of $21 billion of energy infrastructure assets. Its gas transmission pipelines span every state and territory on mainland Australia, delivering approximately half of the nation’s gas usage. APA has direct management and operational control over its assets and the majority of its investments. APA also holds ownership interests in a number of energy infrastructure enterprises including SEA Gas Pipeline, SEA Gas (Mortlake) Partnership, Energy Infrastructure Investments and GDI Allgas Gas Networks.
APT Pipelines Limited is a wholly owned subsidiary of Australian Pipeline Trust and is the borrowing entity of APA Group.
For more information visit APA’s website, apa.com.au
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