The company announced today that Mr McCormack has advised the APA board of his intention to retire from the role no later than 31 December 2019.
Having taken over the role in 2005, Mr McCormack said he was proud of his tenure with the company.
“In deciding to call time, I know that the company is in a strong position, with excellent prospects, and with an exceptionally talented and committed team in place,” he said.
“Our singular focus has been to deliver energy to wherever it is needed whenever it is needed.
“That focus, combined with our innovative thinking, is what led to the development of the east coast gas grid, a gas transmission system with no equivalent on the planet.”
APA Group Chairman Michael Fraser said Mr McCormack had been a valuable asset to the company, which currently owns and operates approximately 56 per cent of Australia’s pipeline transmission system.
“Mick’s record speaks for itself in terms of his contribution to APA’s success and to the Australian energy industry since takin over as CEO and Managing Director in 2005,” he said.
“Mick will leave having established an unrivalled position for APA in gas transmission pipelines across the country and a strong portfolio of growth projects ahead of it.”
APA is currently undertaking a selection process to find a replacement for Mr McCormack, who will continue to lead the company until his successor commences in the role.
The announcement caps off a busy year for APA, which included a failed takeover attempt by the Hong Kong-based CK Consortium.
For more information visit the APA Group website.
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