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Synergy board resignations(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 23 July 2014 Release date- 22072014 - Energy Minister Dr Mike Nahan announced the resignation of Chair Michael Smith and directors Eric Hooper, Keith Spence and Professor Margaret Seares from the Synergy Board. 'Mr Smith joined the Synergy Board as chairman eight years ago when the company was purely a retailer. He has done a very good job as chairman during those eight years,' said Dr Nahan. 'Last year I asked Mr Smith to stay on to bed down the merger of Synergy and the Government-owned generation company Verve and he agreed to do that and I'm very pleased with how that has gone. 'Synergy is now a very different beast from when Mr Smith came on-board. It is now largely a vertically integrated energy company going through major change at a time when the energy market itself is going through tremendous structural change.' Dr Nahan said the Government had embarked on a program aimed at reducing costs and keeping downward pressure on electricity prices and he was looking forward to working with a new Board to drive the company in that direction. 'There is no doubt that there have been disagreements on the Synergy Board but the bottom line is that the merger of Synergy and Verve has delivered significant cost savings to this point and we are determined to continue with our reform program for the benefit of all West Australian,' said Dr Nahan. Synergy CEO, Jason Waters, thanked Mr Smith, Mr Hooper, Mr Spence and Professor Seares for their efforts during a significant period of transition for the new Synergy and overseeing the bedding down of the Synergy/Verve Energy merger. 'I appreciate their collective support and guidance in shaping the future of Synergy, navigating the corporation through significant commercial issues, and their commitment to driving a new corporate vision for the business,' Mr Waters said. 'Synergy is now engaged in a process with the Office of the Minister for Energy in order to fill vacant board positions in relation to a new chair and board members which are expected to be announced in the very near future.' Mark Chatfield and Michael Goddard will continue in their roles as non-executive directors. Media Contact: Tel: (08) 9424 1977 Mobile: 1300 889 016 (c) 2014 Electronic News Publishing - |