- Brisbane gas developer, State Gas (GAS) has appointed Doug McAlpine as its new CEO, effective immediately
- The new CEO brings more than 20 years’ experience in public company management, including in the finance, mineral exploration and construction sectors
- In the top position, Mr McAlpine will receive an annual salary of $300,000 plus performance rights
- Former CEO Richard Cottee will remain with the company as Executive Chair “until further notice”
- Company shares are down 5.26 per cent to trade at 27 cents at 3:11 pm AEDT
State Gas (GAS) has appointed Doug McAlpine as its new CEO, effectively immediately.
The new CEO brings more than 20 years’ experience in public company management, including in the finance, mineral exploration and construction sectors.
In the top position, Mr McAlpine will receive an annual salary of $300,000 plus performance rights.
He takes over from Richard Cottee who will remain as Executive Chairman of the company until further notice.
Mr Cottee said his replacement comes at a critical point in State Gas’ evolution as a company, in particular with a focus on demonstrating production capability from its existing asset base.
State Gas’ board told investors it believes Mr McAlpine’s experience and proven problem-solving capabilities will allow the company to “rapidly accelerate” a range of important strategic initiatives.
Amid the executive changes, current Executive Director, Greg Baynton has transitioned to Non-Executive Director.
Company shares were down 5.26 per cent to trade at 27 cents at 3:11 pm AEDT.