SYDNEY, AUSTRALIA: Dalrymple Bay Infrastructure Limited (DBI), a leading coal export terminal operator, has announced the appointment of Mr Michael Riches as its new Chief Executive Officer, effective on 4 March 2024.
Mr Riches has extensive experience in infrastructure, regulatory and operational roles across various industries in Australia. He was previously the CEO of Axicom, a mobile phone tower business, and the Group Executive of Network at Aurizon Holdings Limited, a rail freight company.
He also has a legal background, specialising in financing mergers and acquisitions and major infrastructure projects.
Mr Riches will replace Mr Anthony Timbrell, who will leave DBI on 25 January 2024 after 15 years of service. Mr Timbrell led DBI through its IPO in 2020 and secured a favourable regulatory outcome with its customers, resulting in stable and predictable cashflows. DBI’s Chief Financial Officer, Ms Stephanie Commons, will act as interim CEO until Mr Riches joins the organisation.
Dr David Hamill, Chair of DBI, said he was delighted to welcome Mr Riches as the new CEO, who will bring a unique skill set to the company and accelerate the execution of its strategic priorities. Mr Riches said he was excited to join DBI, which has a world class infrastructure asset and a strong organic growth profile.
He said he looked forward to working with the Board, senior executive team, and all stakeholders to deliver further value for securityholders.