The top job at Babcock & Brown Infrastructure (BBI) will be handed over in August to Steve Boulton, the chief executive of Kiwi gas and electricity giant Powerco.
Boulton’s appointment ends a three year stint at the helm for current chief executive Chris Chapman.
In a new chief operations officer role, Chapman will take charge of operations of the wider Babcock & Brown business’ specialist funds management outfits, including BBI, B&B Capital, B&B Japan Trust, B&B Environmental Investments and B&B Global Partners. He will also stay on as a director of BBI.
Boulton is no stranger to the Australian infrastructure sector, having been chief executive at Queensland based Allgas Energy as well as holding past senior roles at electricity company Energex before he took on the chief executive role at Powerco.
BBI chairman Phil Green said Boulton’s knowledge and experience of the energy and infrastructure sectors made him an “ideal leader”.
Known as Prime Infrastructure Group until July 1 this year, BBI has about $4.5 billion in funds under management and holds ten assets across Australia, Europe and New Zealand, including the Dalrymple Bay Coal Terminal in North Queensland, the Ecogen power project in NSW’s Hunter Valley and recently purchased Irish national gas company Utility Grid Installations.
BBI acquired 53.65 per cent of the issued share capital of Powerco in late 2004.
