Transurban names Michelle Jablko new CEO
Transurban chief financial officer Michelle Jablko will succeed Scott Charlton as chief executive of the $43 billion tollroad group, which delivered a five-fold increase in annual net profit to $92 million.
Ms Jablko, who joined Transurban in early 2021 after spending almost five years at ANZ, where she was the bank’s finance boss, will take on the top job after Transurban’s annual meeting in October.
Incoming Transurban CEO Michelle Jablko.
Transurban said a new chief financial officer would be announced “in due course”.
Transurban told investors in February that Mr Charlton, who has run the tollroad group for 11 years, would retire by the end of the year.
Ms Jablko, who is based in Melbourne, has long been considered the lead contender to replace Mr Charlton given her strong financial and legal background.
Ms Jablko, who holds degrees in law and economics, joined UBS after a brief stint as a lawyer with Allens and spent 13 years at the investment bank, rising to the position of managing director. She spent two years with another investment bank, Greenhill & Co, before joining ANZ in mid-2016.
She is expected to use her financial acumen to steer Transurban through a period of high interest rates, which increase the income the company receives from toll fares but also raises the cost of debt.
The company, which has taken advantage of low rates to build and buy more toll roads, needs to refinance more than $2 billion in debt over the next few years. It is carrying more than $23 billion in group debt.
The Australian Competition and Consumer Competition decision next month on whether it will allow Transurban to bid for a majority stake in Melbourne’s EastLink tollroad will also be crucial to Transurban’s growth strategy in
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