Smol to join Contact board

Tuesday 25th September 2018

Former top public servant David Smol is to join the board of Contact Energy next month.

Smol previously ran the Ministry of Economic Development. He established the Ministry of Business, Innovation and Employment in 2012 and ran it until 2017.

Contact chair Rob McDonald said Smol’s extensive experience in the energy sector and in public sector leadership will strengthen the board.

The company, like the other major generator-retailers, is working hard to ensure the industry doesn’t become a political whipping boy in the wake of the electricity price review currently underway. The independent panel’s initial work last month showed no evidence of excessive profiteering in the sector.

Smol’s previous energy sector experience includes work with Conoco in the UK, and six years with the New Zealand Treasury and ECNZ. He spent two years with Contact from 1995 as the firm’s wholesale market development manager.

Contact's shares last traded at $5.82 and have increased 4.7 percent so far this year.

(BusinessDesk)

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