Statement from CEFC CEO Ian Learmonth regarding chair and member appointments to the CEFC Board

20 July 2017

A statement from CEFC CEO Ian Learmonth

"Minister Frydenberg and Minister Cormann have today announced Mr Steven Skala AO as the new Chair of the CEFC Board, with Ms Leeanne Bond, Ms Samantha Tough and Ms Nicola Wakefield Evans also joining the CEFC Board: See below for the Joint Ministerial Media Release.

"These new appointees bring an enormous level of experience and skill to the CEFC. We look forward to working with the new Board in the future, alongside our continuing Board members, Mr Martijn Wilder and Mr Paul Binsted.

"The CEFC recognises the contribution of Ms Jillian Broadbent AO as our founding chair, as well as departing Board members Ms Anna Skarbek, Mr Ian Moore and Mr Andrew Stock.  

"The CEFC has benefited enormously from their commitment, passion and expertise since we began investing, and they leave an enduring legacy for the CEFC and the Australian clean energy sector.

"With the support of our founding Board, the CEFC has consistently delivered on our mission to increase investment into clean energy in Australia. This is clearly reflected in our investment performance for the most recent financial year, where we committed almost $2.1 billion to 35 individual transactions. CEFC investment commitments since inception have now contributed to clean energy projects valued at $11 billion."

JOINT MINISTERIAL MEDIA RELEASE
20 July 2017 

SENATOR THE HON MATHIAS CORMANN
Minister for Finance

THE HON JOSH FRYDENBERG MP
Minister for the Environment and Energy

NEW APPOINTMENTS TO THE CLEAN ENERGY FINANCE CORPORATION BOARD

The Turnbull Government is pleased to announce several appointments to the board of the Clean Energy Finance Corporation (CEFC).

The new board members bring a range of important skills and expertise to the board with significant experience in energy, finance and investment, innovation, corporate risk and governance.

Steven Skala AO will serve as the new Chair of the CEFC. Mr Skala has a long and distinguished career of service including on the boards of private, not-for-profit and government organisations. He is Vice Chairman, Australia of Deutsche Bank AG and former leading corporate lawyer. He is also a former Director of the Australian Broadcasting Corporation and Chair of Film Australia.

Leeanne Bond, Samantha Tough and Nicola Wakefield Evans will join the board as members.

Ms Bond is one of Australia's leading engineers and has extensive experience in the water and energy sectors in Queensland and the Northern Territory. She currently serves on the board of Snowy Hydro and is Deputy Chair of the board of Territory Generation.

Ms Tough has had a distinguished and varied career in the energy and resources industries in Western Australia and serves on the boards of Synergy and Saracen Holdings Limited, amongst other boards.

Ms Wakefield Evans is one of Australia's leading corporate and commercial lawyers. She was a partner at King & Wood Mallesons and its predecessors for more than 20 years and now serves on the boards of Macquarie Group, BUPA Australia and Lendlease Corporation.

These appointments strengthen the gender balance of the board and enhance its geographical representation. The Government proposes to make an additional appointment to fill a final vacancy on the board in the coming months.

The Government would like to thank the departing Chair, Jillian Broadbent AO, and members Ian Moore, Anna Skarbek and Andrew Stock, for their outstanding service on the board, particularly through the establishment phase of the CEFC.

The CEFC manages a fund of more than $10 billion, and the 2016-17 year saw it commit almost $2.1 billion to 35 individual transactions with each dollar of investment matched by more than $2 from the private sector. The new Chair and board are well placed to build on this success in the future.