New members of AGL Energy’s board of directors will have little time to bask in the glory of being elected to the country’s biggest polluter. They face a huge task to navigate the company through the energy transition.
Mike Cannon-Brookes has set a new benchmark for successful shareholder activism and is now in a position to influence the strategic direction of the $5 billion AGL Energy, despite holding just 11.3 per cent of the issued capital.
It is hard to think of one investor who has had so much influence over such a large company. Also, it is rare for an activist to gain the support of so many other shareholders on the register.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
