Dalrymple Bay Infrastructure has appointed Michael Riches as its new chief executive officer, with current CEO and managing director Anthony Timbrell leaving the organisation this week.

Mr Riches’ previous roles include chief executive officer at Axicom and group executive, network at Aurizon Holdings.

Dalrymple Bay Infrastructure (DBI) owns the Dalrymple Bay Terminal (DBT), near Mackay – the world’s largest metallurgical coal export facility.

“I am excited to be joining the DBI team,” Mr Riches said.

“With a world-class infrastructure asset, DBI remains exceptionally well positioned to serve as a critical component of the global steel making supply chain.

“DBI’s financial stability, afforded by its existing customer contracts and its ongoing NECAP investment, underpins growth in future revenues and provides a platform to deliver further value for securityholders through organic and inorganic growth.

“I look forward to working with the board and senior executive team as well as our employees, customers, contractors, government and all other stakeholders”.

DBI chair David Hamill paid tribute to Mr Timbrell’s leadership.

“In addition to his successful leadership of DBI through the IPO in 2020, Anthony has led DBI’s achievement of the transformative transition to a light-handed regulatory environment, under which DBI secured a material pricing uplift with all of its customers, delivering CPI-linked stable and predictable cashflows.

“On behalf of the Board and securityholders, I would like to sincerely thank Anthony for his dedication and commitment to DBI over his 15 years of service and we wish him all the best in his future endeavours.”

Stephanie Commons, DBI’s chief financial officer, will be appointed as acting CEO from today until Mr Riches commences with the organisation on March 4.