Quite a step up from working at sub-CFO level (was in the...

Quite a step up from working at sub-CFO level (was in the Controller's position, not in the CFO's position) to now working in the CFO position.

Equally so, going from a workforce of 400+ to (at last count), 1140.

About the only similarities involved relate to both industries being highly regulated - electricity (industry) vs legal (profession).

Via the Alinta workout, has had some exposure to how private equity works, but here, one is not talking of private equity, as opposed to distressed equity (hence, private debt control).

Mind you, one potential conflicting argument - working in "dirty" coal vs now working in respect of a business that could possibly represent former workers from "dirty" coal (as AGL puts it) in future matters. A bit working both sides of the coin (both "heads").

Not really therefore a comparable replacement for Houghton, but arguably probably an equal to Brown (sans the ASX experience, but plus some restructuring participation). Work will therefore be cut out here for both Stephens and Nucifora. Expect the replacement board therefore to wield the "real" control and influence.