Sydney Airport Holdings has appointed of a new Chief Executive Officer.
Geoff Culbert, former GE President and CEO, will take on the role with Sydney Airport in January 2018.
Sydney Airport chairman, Trevor Gerber, said, “Geoff brings to Sydney Airport extensive commercial and operational experience, and a track record of working closely and collaboratively with customers, business partners and government.
“Aviation is one of the most dynamic and fast changing industries in the world. Geoff embraces innovation and technology, and this ongoing focus will position Sydney Airport for future success. He also has strong and established relationships with many of Sydney Airport’s key airline and business partners, and across all levels of government,” Mr Gerber said.
The Sydney Morning Herald reported that Mr Culbert will receive $1.5 million in fixed annual remuneration, including super. Mr Culbert will also be eligible for short-term incentives of up to $1.5 million payable in cash, and long-term incentive equity awards worth up to $1.2 million, provided certain hurdles are met.
Mr Culbert said leaving GE was not an easy decision.
“[GE] is an extraordinary company and I’ve enjoyed every one of my 15 years here. The people at GE are the best I’ve worked with in my career, and that’s a testament to the culture of growth, integrity and innovation we have built,” Mr Culbert said.