UPDATE 2-Australia's Origin Energy picks insider Lucas as CFO amid shift to renewables

(Rewrites and updates throughout with further details and background; adds analyst reaction)

By Himanshi Akhand and Rishav Chatterjee

April 11 (Reuters) - Origin Energy picked insider Tony Lucas as its new finance chief on Thursday as the Australian electricity retailer focuses on its transition towards greener forms of energy.

Currently the executive general manager of Origin's future energy and technology division, Lucas will take charge from July 1 after Lawrie Tremaine leaves the chief financial officer (CFO) role on June 30.

"The announcement underlines the company's commitment to internal growth and progression, but it also points to potential strategic shifts, especially its future energy trajectory – an area where Lucas has significant expertise," said Josh Gilbert, a market analyst at eToro.

In December last year, Origin shareholders rejected a $10.6 billion takeover offer by a Brookfield-led consortium, and analysts have speculated that the Canadian asset manager may come up with another proposal.

"A new CFO with a focus on future energy could pave the way to a more successful deal, given Brookfield's strong focus on renewable solutions," said Gilbert.

Power retailer Origin in February said Tremaine intended to retire at the end of July.

"Tremaine will retire from the chief financial officer role on 30 June 2024, but will remain with Origin until the end of July to enable a smooth transition," the company said on Thursday.

This week's appointment marks the end of Tremaine's seven-year run at the helm, during which the electricity and gas retailer experienced some turbulence in markets, said Gilbert.

"Ultimately, he leaves the company with a much stronger share price than when his leadership was first announced," said Gilbert.

Lucas has more than 30 years of experience across finance, strategy and regulatory policy and advocacy, among others, and has been part of Origin's executive leadership team since 2016.

(Reporting by Himanshi Akhand and Rishav Chatterjee in Bengaluru; Editing by Maju Samuel and Subhranshu Sahu)