Australia’s AGL Energy hires AES’ Vesey as new chief executive
For the record, Andrew Vesey joined AGL Energy on January 12 as the company’s new managing director and chief executive and replacing Michael Fraser who retired on February 11, following the half year results announcement.
raser established AGL as one of Australia’s largest energy retailers and led the expansion of the utility’s activities in renewables, thermal power generation and upstream gas exploration and development.
Vesey was perviously executive vice president and chief operating officer at AES Corporation, an independent power producer with businesses in 20 countries. Vesey has more than 30 years’ experience in the energy sector, including strategic and commercial leadership of large energy organizations.
While at AES Vesey gained knowledge and experience of large-scale renewables, including wind and solar, as well as rooftop solar and battery storage, particularly the R&D and commercialization of new technologies that are expected to shape future energy markets and pave the way for new business models in the electricity markets.
His duties at AES also included chairing subsidiary Daytona Power and Light, which operates competitive electricity retail businesses in Ohio and Illinois.
“His experience in creating value in energy companies with evolving business models will be an advantage to AGL,” said Jeremy Maycock, chairman of the utility.
Vesey joined AES in 2004 from FTI Consulting, where he was managing director of the utility finance and regulatory advisory practice. During his 10 years at AES, Vesey held a number of senior positions, including chief operating officer of global utilities, leading AES businesses in 10 countries, and executive vice president and president for Latin America and Africa.
Before that he was a partner in the energy, chemicals and utilities practice at Ernst & Young. Vesey’s appointment as AGL’s chief executive sees him return to Australia. Before Ernst & Young, Vesey worked in at Citipower in the company’s offices in Melbourne.
Vesey has also written papers on restructuring transmission grids and the role of new technology in deregulated electricity markets.