The new Liberal Government has cost CO2 chief executive Andrew Grant his job.
CO2 announced today that Mr Grant would leave the company after 10 years because of the proposed abolition of the carbon tax and continuing uncertainty in the carbon market generally.
The company said in a statement the changes in government policy meant it had to reduce the scale of its carbon operations and pursue new growth areas, such as expanding its environmental services and its developing aquaculture business.
"It is disappointing that changes in market circumstances have brought on this change," the company said.
CO2 said the company would be led by corporate development executive director and managing director of subsidiary CO2 Australia, Dr Chris Mitchell, and Rob Bell, who was managing director of the company's aquaculture development business.
Both men would report to executive chairman Ian Trahar.
CO2 shares were steady at 6.4 cents at 12.20pm.