Just over a week after standing down as chief executive of major Queensland energy supplier CS Energy Ltd, Mark Chatfield has returned to Western Australia, taking on a role at South Perth-based energy company Aviva Corporation Ltd.
Just over a week after standing down as chief executive of major Queensland energy supplier CS Energy Ltd, Mark Chatfield has returned to Western Australia, taking on a role of at South Perth-based energy company Aviva Corporation Ltd.
Mr Chatfield elected to leave CS Energy earlier this month before responding to allegations he had ordered the purchase of 60,000 shares in Perth-based asset management company PearlStreet Ltd before it announced a five-year, $3 million contract with the supplier in April.
CS Energy said in a statement released on May 11 that the shareholding represented a potential breach of its code of conduct, and had had the matter investigated by Ernst and Young. For his part, Mr Chatfield has rejected any allegation he had breached the code.
The company ceased its investigation into Mr Chatfield's share dealings after he announced his resignation.
Aviva Corporation chief executive Lindsay Reed said in an announcement today the board was aware of the enquiries, but said Aviva had undertaken substantial due diligence into Mr Chatfield's background before making the decision.
He said Aviva had been in discussions regarding the recruitment of Mr Chatfield to Aviva for twelve months, following a national search for suitable candidates for the position of General Manager - Energy.
Mr Chatfield previously served as the former General Manager of Operations at Western Power Corporation, as well as holding senior positions with Mobil and Ampolex.
The full text of an Aviva announcement is pasted below
Aviva Corporation Limited (ASX:AVA), the Mid West energy company, has today appointed energy specialist Mark Chatfield to help the company take a further step toward being a major supplier to the WA energy market.
With more than 30 years experience in the energy industry, both in Australia and abroad, Mr Chatfield will join Aviva as General Manager - Energy in the development of its $1 billion power station based in the state's Mid West.
Aviva Corporation Chief Executive Officer Lindsay Reed said Mr Chatfield's experience meant he was particularly qualified for the position, and would be a major asset in taking Aviva to the next phase of its growth strategy.
He was most recently Chief Executive Officer of CS Energy in Queensland, during the construction of the $1.2 billion, 750MW coal powered energy generation facility at Kogan Creek - the largest single generating unit in Australia.
Mr Reed said Mr Chatfield was well known in the WA industry following his time at Western Power Corporation, as General Manager Generation. He has also held senior positions with Mobil and Ampolex.
"Mr Chatfield is well positioned to help drive Aviva into its next phase of growth. He knows the evolving WA energy industry, and has first class experience in sustainable coal fired energy generation.
"At CS Energy Mr Chatfield was a strong supporter of the development of oxy-firing for coal combustion, which will be a key to development of sustainable and economic coal power into the future," Mr Reed said.
"This provides a great fit for Aviva at this stage in its growth strategy and for the future of WA energy supply," Mr Reed said.
Mr Reed said that Mr Chatfield has advised the Aviva Board of enquiries in Queensland regarding his share trading activity while CEO of CS Energy.
He said Aviva had been in discussions regarding the recruitment of Mr Chatfield to Aviva for twelve months, following a national search for suitable candidates.
"Aviva had undertaken considerable additional due diligence in making the appointment," Mr Reed said.
Mr Reed said that based on the information available, Aviva was confident in appointing Mr Chatfield to this position, and that it was in the best interest of Aviva shareholders.
"Aviva places a high priority on sound Corporate Governance, and will continue to keep shareholders informed if developments arise," Mr Reed said.
"We believe Mr Chatfield's experience is hard to find, and that his appointment will help generate real long-term value for the shareholders of this company," he said.
