Boulton will relocate from New Plymouth, New Zealand – where he has been Powerco chief executive for the past five-and-a-half years – to Sydney, effective from August 1.

"It worked out well and I am glad I will still have some involvement with, some oversight of, Powerco, which is one of 10 energy infrastructure companies Babcock and Brown now owns worldwide," Boulton told EnergyReview.net this morning.

BBI chairman Phil Green said Boulton's 25 years-plus energy and infrastructure experience would be invaluable as he led BBI into the next stage of its development.

"Steven's extensive experience and detailed knowledge of the energy and infrastructure sectors makes him an ideal leader for the business," Green said.

"The board and I have a great deal of confidence in his ability to extract value and secure growth across all areas of the business."

Green thanked Chapman for his "significant contribution to the development and growth of BBI to this point" and said it was intended Chapman - who has taken a broader role within Babcock & Brown's specialist funds management activities – would remain a BBI director.

"Since the establishment of Prime Infrastructure, following the acquisition of the Dalrymple Bay Coal Terminal in North Queensland in 2002, BBI has been on a rapid growth path fuelled largely by acquisitions," Green said.

"Today it has grown into a diversified global infrastructure business with 10 assets worth more than A$4.5 billion under management. While BBI will continue to pursue acquisitions that represent a clear strategic fit with our existing assets, the focus of the business will be on extending the value of the current portfolio."

BBI, as Brisbane-based Prime Infrastructure, last November completed its controversial and at times messy takeover of New Plymouth-headquartered Powerco – New Zealand's largest gas reticulator and second largest electricity lines company.

And last Thursday, BBI added United Kingdom gas transporter Utility Grid Installations to its international portfolio at a cost of £5.8 million (A$13.6 million). That deal was done by BBI's UK subsidiary, the Gas Transportation Company, which was brought into the BBI fold as part of BBI's acquisition of the International Energy Group last May.