ERM POWER'S NEW CHIEF
Written on the 30 October 2014
ERM Power (ASX: EPW) has appointed a new managing director and CEO, Jon Stretch, to commence in the role on 2 February 2015.
Stretch has international experience in the information technology, telecommunications and industrial sectors, including B2B and B2C sales.Prior to joining EPW, Stretch was the executive vice president for Europe, Middle East and Africa for Landis+Gy, running operations from Switzerland.
Before then, he was based in Sydney as CEO of AAPT.Stretch started his career in telecommunications with IBM in Australia in 1986.
“I am excited by this opportunity and look forward to working with ERM Power’s highly talented executive management team in leading the company in the next phase of its growth and development as the fourth pillar in the Australian electricity retailing market,” says Stretch.His base annual remuneration will be $800,000, to be reviewed annually by the board.
EPW’s share price climbed 7.17 per cent following the announcement to $1.72 per share.