The shock departure of Brett Redman as CEO of AGL Energy has fuelled speculation that the demerger plan he developed may have hit the rocks, with his exit giving space for top management to backtrack and adjust the strategy for the embattled electricity and gas supplier.

Investors and analysts are still struggling to understand the circumstances around last week’s sudden exit of Mr Redman – the architect of the demerger plan – which has plunged the country’s biggest electricity and gas retailer into crisis.