Meridian Energy subsidiary Flux Federation CEO resigns
Make us a preferred source
Make us a preferred source on Google
The news: Nic Kennedy, the CEO of Meridian Energy subsidiary Flux Federation, has resigned, and will leave the company on 2 July.
The numbers: Kennedy has served as Flux CEO for nearly six years, since joining the company in June 2018, after three years at PwC.
In February, Meridian Energy reported a half-year EBITDAF loss of $47 million for its segment that includes Flux "and other operations", extended from a $36 million loss a year earlier.
The context: Flux is a wholly-owned, independent subsidiary of ASX- and NZX-listed electricity generator and retailer Meridian Energy, with its own governance structure. It provides clients, including Meridian Energy, with modern energy and utility billing technology.
The Wellington-based company said its board will shortly begin recruitment for a new CEO.
The source: ASX announcement
