Hydro Tasmania CEO Ian Brooksbank to depart in October after three years in role

Hydro Tasmania CEO Ian Brooksbank has announced he will step down in October after three years in the high-powered and high-paying job.

Hydro Tasmania CEO Ian Brooksbank at Blundstone Arena. Picture: Chris Kidd

Hydro Tasmania boss Ian Brooksbank will step down after spending three years in the high-powered role, citing a desire to spend more time with his family and transition to “semi-retirement”.

Mr Brooksbank will leave the renewable energy business on October 3 after serving in the role since July 2022. Before that, he was the acting chief executive officer from August 2021.

His departure comes after his predecessor, Evangelista Albertini, served as CEO for just a year.

Mr Brooksbank is the latest high-profile government employee to announce his resignation following the state election, after Department of Premier and Cabinet secretary Jenny Gale stepped down earlier this week.

According to Hydro’s 2023 annual report, Mr Brooksbank received a total remuneration package of $618,000 in 2022-23 and a base salary of $495,000.

“I feel incredibly privileged to work with the team at Hydro Tasmania and proud of our record over these past few years,” Mr Brooksbank said.

“We’ve positioned the business to be at the forefront of the national transition to renewables, which has the potential to deliver enormous benefits to Tasmania and to Australia.

Hydro Tasmania has announced that its CEO, Ian Brooksbank, is departing the high-powered role. Picture: Richard Jupe

“The path ahead is very exciting, but it’s time for another leader to take the reins and drive what is an ambitious agenda. And it’s time for me to slow down and spend more time with my partner and my family.

“Communication technology is great these days, but it’s not the same.”

Hydro chair Richard Bolt described Mr Brooksbank as “respected and admired across the company and the energy industry”.

“He is a skilled and compassionate leader, with a sharp business mind and deep knowledge about a sector which is undergoing a major transition,” Mr Bolt said.

“In his time as CEO, he has set a clear strategic path for the business, driving proposals for major new generation and storage projects, delivering strong financial results and championing a significant shift in culture.”

Tarraleah Power Station is one of Hydro Tasmania’s many energy assets across the state. Picture: Supplied

Mr Bolt said Mr Brooksbank had been “particularly adamant about the importance of safety” and that it was “no coincidence” that Hydro had recorded its lowest ever rate of workplace injuries under his leadership.

Mr Brooksbank has worked in the energy industry for decades and has previously held executive positions at Blue NRG and AGL, where he oversaw the operation of the Bayswater and Liddell power stations.

A recruitment process for a new CEO will begin in the coming weeks.

Hydro was a key focus of the major parties during the state election campaign. The Liberals have promised to tear up the company’s Ministerial Charter, shifting its focus from prioritising energy export to putting “Tasmanian prices and Tasmanian jobs first”.

Originally published as Hydro Tasmania CEO Ian Brooksbank to depart in October after three years in role