The Clean Energy Finance Corporation inaugural CEO departs

The Clean Energy Finance Corporation (CEFC) has announced the departure of inaugural chief executive officer, Oliver Yates, effective May 2017.

Yates, who announced his intention to depart from the role in October 2016, is to be succeeded by Ian Learmonth, currently an executive director with Social Ventures Australia.

Yates was appointed as CEFC's CEO on 26 November 2012. He has more than 20 years' global experience in corporate advisory, financial structuring, project finance, debt structuring and equity raising and listings. Previously, he was an executive director at Macquarie Bank for more than 10 years.

Commenting on his departure from CEFC, chair, Jillian Broadbent, said: "As our inaugural CEO, Oliver built an effective investment platform with a high-quality team. We have an exciting pipeline of opportunities and have delivered a strong investment performance across a diverse portfolio covering over $3.3 billion in commitments. Oliver leaves with our sincere appreciation and we wish him every success for the future."

Yates added: "This has been a difficult decision but the timing is right. I want to hand the baton to the next CEO knowing the CEFC has never been stronger. The CEFC is now well established, with a robust pipeline of transactions, and a great team of specialists, with the strong support of the clean energy sector."