Yesterday, a rumour spread that long-serving Energy One CEO Shaun Ankers was planning to retire. By 9.36pm Capital Brief had published an article originally titled Energy One CEO Expected to Step Down and Transition to Board.
This morning at about 8.30 am, Energy One released an announcement on Leadership in EOL’s New Era, announcing that “the current Chief Executive Officer, Mr Shaun Ankers, has informed the Board of Directors of his intention to retire by age 60, at the end of calendar 2026 (i.e. in approximately 15-18 months).”
This amounts to a notice period of around 18 months, which is decently long.
Importantly, the announcement said that, “Mr Ankers will participate in the selection process with other Board members and will continue to remain on the Board when the new CEO is selected.” This will provide crucial continuity in the leadership group, which currently benefits from more years of collective business experience than most similarly sized boards.
Mr Ankers commented:
“Strategic initiatives tend to operate best in multi-year phases. We have explained that our current strategic mission is well underway (i.e. the globalisation pivot, ~2 years in) and we are reaping the benefits. Our trajectory for the current horizon is one of growth and operational leverage. This remains true.
The Company is in the best shape it has ever been in. It is a wonderful collection of high-quality people, great products and services, definable and sustainable competitive advantages, and a global, once-in-a-generation structural tail wind.
The next phase for the Company is about stepping up from being an effective global operator to becoming a global powerhouse. It is an exciting time, and one that I believe is best led by the next chapter of leadership. With a highly capable Executive team already in place, we are well positioned to appoint a CEO who will bring fresh energy and vision to take full advantage of the opportunities ahead.
I look forward to working with the new CEO to help them fine-tune their strategy and mission to build upon what we have achieved thus far and help to set them up to achieve maximum success.
For me personally, it has been a privilege to have been part of building the business to where it is today. Stepping aside to pursue other interests is only possible because we have a well-managed, thoughtful succession and transition process in place. Until then, I remain fully committed to delivering on our current initiatives, including driving both organic and inorganic growth and expansion.”
Andrew Bonwick, EOL Chairman commented:
“We anticipate releasing the full year result on August 20. The result will be consistent with the trajectory and medium-term target we outlined in February and will provide a good platform for the new CEO. Shaun Ankers has led Energy One for 15 years, and we all are looking forward to the next 15 years of the EOL journey.”
Personally, I will take some time to consider this new information and update Supporters accordingly, in due course.
Disclosure: The author of this article owns shares in EOL and will not trade EOL shares for at least 48 hours following the publication of this article. This article is not intended to form the basis of an investment decision and is not a recommendation. Any statements that are advice under the law are general advice only. The author has not considered your investment objectives or personal situation. Any advice is authorised by Claude Walker (AR 1297632), Authorised Representative of Ethical Investment Advisers Pty Ltd (ABN 26108175819) (AFSL 276544).
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