Sydney Airport appoints GE executive Geoff Culbert as new CEO

GE executive Geoff Culbert will replace Kerrie Mather as head of the firm running Australia’s busiest airport.

New Sydney Airport CEO Geoff Culbert. Pic: Renee Nowytarger

Sydney Airport, which runs Australia’s busiest airport, says the head of General Electric Co’s unit in Australia will take over as chief executive in the coming months.

The appointment of Geoff Culbert comes after current Sydney Airport chief executive Kerrie Mather said she would step down, prompting the airport to launch a global search for her replacement.

Mr Culbert, who has been president and chief executive of GE Australia, New Zealand and Papua New Guinea since 2014, will begin his new role at the airport before the end of January. He will be paid an annual salary of $1.5 million, including superannuation.

Outgoing CEO Kerrie Mather. Pic: James Croucher

Sydney Airport has benefited from a boom in tourism to Australia in recent years, especially from China. The company (SYD) recently turned down an opportunity from the government to build a second airport in western Sydney, which will now be a competitor, but the new facility isn’t expected to open for about a decade.

Mr Culbert is “excited about the contribution the airport makes to the broader economy,” he said in a statement. “If we continue to capture the increasing demand for travel, particularly from developing markets, the flow on benefits for the NSW and Australian economy will be huge.”

Dow Jones Newswires