Contact Energy, the biggest power company on the NZX 50, said chief financial officer Mark Elliott has resigned to take up a job with Australian parent Origin Energy.
Elliott has been named general manager commercial - energy markets at Origin, the Australian power company that owns 52.8 percent of Contact.
He will take up the role on July 2. There has been a regular flow of executives between the two companies. In April 2011, David Baldwinstepped down as Contact’s managing director to become Origin's chief development officer.
He was replaced by another Origin executive, Dennis Barnes. Shares in Contact are currently trading at $4.80 and have shed about 8 percent this year.