AGL Energy is set to scrap its proposed split after a relentless campaign by major shareholder Mike Cannon-Brookes, throwing the country’s largest electricity generator deeper into crisis and triggering the likely departure of chief executive Graeme Hunt.
The board of the troubled energy giant was expected to meet before the market opens on Monday to consider withdrawing the controversial plan to split the business into two companies, coal power-focused Accel Energy and retailer AGL Australia.
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
