AGL Energy chief executive Graeme Hunt and Atlassian founder Mike Cannon-Brookes.The board has lost confidence that its plan to split up AGL’s retail and coal-focused power generation businesses would gain the required 75 per cent approval when it goes to a vote on June 15. Instead, the board said it would launch a strategic review of the company’s future direction, overseen by a board sub-committee, and report back to shareholders in September.
“Board and management renewal must occur through an orderly, expedited transition period with appropriate external advice,” it said. AGL’s coal- and gas-fired power stations are the biggest sources of greenhouse gas emissions in Australia, accounting for 8 per cent of the nation’s carbon footprint.
It mightn't make much difference but if an energy company isn't going to use our coal for clean coal power generation then I'm not going to buy my power from them, I'm ditching AGL today auspol wind power and solar are polluters marring our pristine landscapes and ROI deficient
Coz no one saw that coming. Like Jurassic Park, dinosaurs rarely do well.
The koala wins again.
AGL thrown into crisis? You greedy phuks. NoCoalThanks ShoveYourProfits ClimateEmergency ClimateCrisis ClimateAction
What a shitshow!
It’s so sad 😞 were fkd
DarylTractor I'd argue that AGL has successfully avoided a crisis, not been thrown into one.
The gaslight on the hill has been extinguished. auspol
Your comment section always has a spam account on it saying do you want to see my boobs. Seriously do something to stop it ay
Thoughts and prayers
They lost their political protection. Now it is open season on AGL. Shareholders should sue the board.
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AGL appears set to dump demerger plan, yielding to Mike Cannon-BrookesBoard to meet on Monday, with future of chief executive also up in the air if demerger is called off seemed to take the share price out of the death spiral As they should. Bravo Mike 👏🏻👏🏻👏🏻
Source: GuardianAus - 🏆 1. / 98 Read more »
AGL dumps coal split plan, chairman and CEO to resignAGL has been thrown into crisis as it suspends long-held plans to spin off its coal-fired power stations following intensifying pressure from tech billionaire Mike Cannon-Brookes and other prominent investors. NickToscano1 👏🏼 mcannonbrookes thank you NickToscano1 The voting must have been against. NickToscano1 Drips for the win! Proud drip here :)
Source: smh - 🏆 6. / 80 Read more »
AGL in crisis as split set to be scrappedAGL Energy is set to scrap its proposed split after a relentless campaign by its largest shareholder, Mike Cannon-Brookes, throwing the country’s largest electricity generator deeper into crisis. I feel sorry for AGL shareholders, when their voice becomes meaningless because some rich dude wants to win. Mike Cannon-Brookes will be an excellent owner of AGL AGL was already in crisis MCB just stopped them from making it worse 👍🏻
Source: FinancialReview - 🏆 2. / 90 Read more »
Botten, Hunt to resign as AGL scraps demergerAGL Energy chairman Peter Botten will resign and CEO Graeme Hunt will step down as CEO after the giant electricity supplier scrapped a longstanding plan to split the business in two. What a massive waste of shareholder money - at a time of a falling share price - they have presided over. Wow! Momentum is with Mike now? Will they sell him the company? This was never a good idea
Source: FinancialReview - 🏆 2. / 90 Read more »
AGL demerger plan in doubt amid mounting oppositionAGL is considering walking away from its controversial plan to split up the company’s coal and retail divisions amid pressure from shareholders.
Source: theage - 🏆 8. / 77 Read more »
AGL demerger plan in doubt amid mounting oppositionAGL is considering walking away from its controversial plan to split up the company’s coal and retail divisions amid pressure from shareholders. NickToscano1 domp Woo hoo. Gooooo Mike! NickToscano1 domp Why is everyone so worried about a couple of small coal fired power stations in Australia, when China is building new ones by the dozen? Whatever reductions we make are instantly undermined by China's increase in emissions. The Wookie is only here to line his pockets.
Source: smh - 🏆 6. / 80 Read more »