Hydro Tasmania on search for new chief executive officer

Hydro chairman Grant Every-Burns has announced Mr Davy will step down when his contract ends later this year.

He has been in the position for almost seven years and working for the company for more than 15 years.

Mr Davy was chief commercial officer at Hydro before he scored the top job.

Mr Every-Burns said Mr Davy had led the business through the energy supply challenge to being at the forefront of Australia's renewable energy transition.

"Under Steve's leadership Hydro Tasmania has laid the groundwork for our future success as a business, taking a bold vision for the role Tasmania can play in a renewable energy future and turning it into an actionable plan through the Battery of the Nation initiative," he said.

Mr Davy said he was particularly proud of the company's community grants program which had funded a variety of projects, including music, dance, historical preservation, healthy eating and mental health initiatives.

He said he had great pride on how the company's employees responded to the state's energy supply challenge.

According to Hydro's most recent annual report, the chief executive officer's salary was $611,000 last year which includes a base salary of $502,000 and $88,000 in incentive payments.

Recruitment for the new chief executive will be handled by search firm Heidrick and Struggles.