Acwa Power CEO Steps Down

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Saudi Arabia’s Acwa Power has appointed a new chief executive officer after Paddy Padmanathan, who held the position for nearly two decades, stepped down, the developer said this week. “The company reached a point where I personally feel it can benefit from new blood," Padmanathan told Energy Intelligence. The new CEO, Marco Arcelli, was appointed by the Acwa Power board and came from outside the company, with previous experience at Italy’s Enel and EP New Energy, where he served as CEO and Chairman. Ending an 18-year tenure at Acwa where he had been founding CEO, Padmanathan will retain his seat on the company's board of directors. “The company has an amazing agenda and a solid leadership team," he said.

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