For the first time since listing, Origin released its recent interim results without Grant King in sight. Frank Calabria, who formally ran the domestic retail business, is the new boss and things are already changing.
We rated King highly, even after the losses from LNG. Before anyone else, it was Grant King who saw the benefits of vertical integration and understood how renewables and gas would alter the energy market. His replacement appears keen to make his mark, making changes in swift time.
With the APLNG project now completed and contributing cash flow, the focus has shifted to lowering Origins enormous $9bn debt pile.
Key Points
Production split
To that end, Origin will split its oil and gas production business from the…
Read the full article at: https://www.intelligentinvestor.com.au/origin-readies-for-split-1861241