Barwon Water Managing Director Michael Malouf is leaving the corporation after nearly five years in the role.
Mr Malouf has advised Barwon Water's Board he does not intend to renew his contract.
In a joint statement with Chairman Dr Michael King today, Mr Malouf said after more than 20 years as a Chief Executive, he wanted to devote more time to his family. He said he would only be interested in future career opportunities that allowed him this flexibility.
"I have enjoyed my role with Barwon Water immensely, but it is time to move on. More so, that a new Board is now in place and embarking on a new direction.
"I leave comfortable in the knowledge Barwon Water is in good hands and in a strong position to meet the demands and expectations of the community," he said.
Mr Malouf joined Barwon Water in September, 2007, after executive roles with Pratt Holdings. Previously, he was Chief Executive of the Carlton Football Club, Melbourne City Council, City of Greater Geelong, City of Melton and City of Wyndham.
He is currently Chair of the Australian division of the US-based WateReuse Association and has represented Barwon Water on various business and community groups, including the Boards of the Committee for Geelong and G21.
Dr King said the Board accepted Mr Malouf's decision and acknowledged his contribution, particularly in the crucial areas of water supply, recycled water and cultural change.
"Michael steered the corporation through a high growth period that saw record capital investment on key infrastructure projects," Dr King said.
"He also led a number of significant recycled water initiatives and helped change public opinion about the value of recycled water as an alternative water source.
"In addition, he promoted a comprehensive cultural change program that has reinvigorated the way Barwon Water does business.
"Michael leaves a strong legacy in the form of a robust water and sewerage enterprise that has the capacity and capability to operate in a dynamic and challenging environment," Dr King said.
Mr Malouf is expected to leave Barwon Water on Friday, March 30.
Barwon Water's Board will begin seeking a replacement as soon as possible.
The Board has appointed General Manager Strategy and Technology Joe Adamski as acting Managing Director.