Synergy boss gets nod as CEO of Perth Mint
Western Australia’s state-owned gold refiner has poached Jason Waters, the head of WA’s state-owned energy utility, as its new chief executive.
Western Australia’s state-owned gold refiner has poached the head of WA’s state-owned energy utility as its new chief executive.
Jason Waters, who has led electricity and gas retailer Synergy for the past eight years, on Monday was named as the new CEO of Gold Corporation and the Perth Mint.
He fills the gap left after the resignation late last year of Richard Hayes.
Mr Hayes stepped down citing health reasons, but he had also been involved in a number of issues including a troubled rollout of an IT system.
Mr Waters steps in at a time when the mint itself is enjoying some of its strongest trading conditions in its 122-year history, with the pandemic driving unprecedented demand for its products.
It delivered a record annual profit last year of just under $56m, with almost $41m in dividends and tax paid to the WA government.
But the pandemic has not been so kind to one of Gold Corporation’s other income streams. The group had previously generated healthy income from tours of its historic mint in the middle of the Perth CBD, but visitor numbers have plummeted since the pandemic closed WA off to the rest of the country and the world.
Only 12,000 people visited the Perth Mint exhibition in 2020-21, down from 73,000 in 2018-19.
Mr Waters does not have any experience in the gold industry, having spent the bulk of his career in the energy sector. He started his working life as a cadet at the Muja coal-fired power station in WA’s southwest, eventually working his way up to the role of chief commercial officer at Western Power, CEO of Verve Energy, and then the top job at Synergy.
Gold Corp chair Sam Walsh said he believed Mr Waters would be a “great fit”.
“His track record of managing government trading enterprises in the complex energy sector, along with his impressive commercial, strategic and leadership skills make him well-placed to lead this iconic West Australian organisation,” he said.
“On the back of two years of successive record profits and minimal disruptions despite the pandemic, Gold Corp’s foundations are strong and will enable us to build on our market leadership.”
Mr Waters said he was honoured to be given the opportunity.
“Gold Corp is a complex and interesting business and I’m excited by the challenge to lead it in a new chapter of its history.”
WA’s acting Mines and Petroleum Minister Tony Buti said he was confident Mr Waters would drive growth at the mint.
“Mr Waters has proven to be a successful CEO, with strong commercial acumen, and extensive experience in government and stakeholder management.”