Former Alinta CFO to run Southern Cross

Former Alinta Ltd senior executive Stephen Pearce has been appointed managing director of contractor Southern Cross Electrical Engineering Ltd.

Mr Pearce was previously the chief financial officer at Alinta and has over 20 years experience in senior management roles in the mining, oil and gas and utilities industries.

His total gross salary is pegged at $500,000 per annum inclusive of superannuation and a maximum annual bonus of 40 per cent of his salary has been set, depending on performance.

Mr Pearce will also receive 1.5 million options with an exercise price of $1.15 each.

SCEE said there will be a short transition period after which executive director and chairman Frank Tomasi will become the non-executive chairman of the company.

Mr Pearce is expected to start his new role on August 18.