Change at top for Epic

Epic Energy’s new CEO, David Williams, is no stranger to challenge and change. Mr Williams has been general manager of Epic’s corporate and strategy division, but before joining Epic four years ago, Mr Williams was general counsel with AlintaGas.

Prior to this, he was general counsel for the Civil Aviation Authority for two years. Mr Williams was in corporate law for more than twenty years, several years of this with Freehill, Hollingdale and Page in Melbourne, one of those managing the firm’s London office.

He was also with the Australian Chamber of Manufacturers and was a partner of Ebsworth and Ebsworth for five years.

Epic’s two previous CEOs – Sue Ortenstone and Jay Holm - have both come from Epic’s US parent company El Paso Energy. Ms Ortenstone was appointed Epic CEO in November 2000 for two years, but has spent an additional six months in this role. She will now join Epic’s board.

Epic Energy is a joint venture formed by Texas-based El Paso Energy International, Virginia-based Dominion, Australian-based Hastings Fund Management, AMP Asset Management and Deutsche Asset Management Australia.

El Paso has sought to reduce costs this year with several asset sales. This month it continued the cost-cutting process, reducing the number of its executive officers from ten to six.