September 2022
Grok demands ‘fresh thinking’ as AGL names chairman
Mike Cannon-Brookes’ firm signalled it may vote against the appointment of a chairman who was involved in the failed demerger and in the “chaotic” board renewal process.
- Updated
- Angela Macdonald-Smith
Energy bosses ‘optimistic’ after ‘decade of energy policy failure’
Energy bosses welcomed a more consultative approach to energy policy under the new government after what one CEO described as a “decade of energy policy failure”.
- Angela Macdonald-Smith and Elouise Fowler
August 2022
‘Frustrated and nervous’: AGL review drags on
AGL Energy shareholders have vented their frustration at the black hole of information emanating from the embattled company on its drawn-out strategic review.
- Updated
- Angela Macdonald-Smith
June 2022
‘Complexity cannot be underestimated’: AGL
Outgoing AGL chairman Peter Botten has emphasised the complexity of the environment in which the embattled supplier is seeking to resolve its future direction.
- Angela Macdonald-Smith
May 2022
- Opinion
- Chanticleer
Cannon-Brookes is the new takeover king
The implosion of the governance structure at AGL Energy has opened the way for Mike Cannon-Brookes to control its future.
- Tony Boyd
Investors demand Paris alignment as AGL dumps split
Investors say a refreshed board was needed and are demanding a quicker exit from coal power to meet official climate targets.
- Updated
- Angela Macdonald-Smith
‘Godawful mess’: AGL’s ‘own goal’ leaves it vulnerable for takeover
AGL Energy is in a state of chaos, void of leadership and vulnerable to another takeover bid from Cannon-Brookes or other parties.
- Mark Ludlow
AGL in crisis as split set to be scrapped
The country’s largest electricity generator is set to scrap its proposed demerger after a relentless campaign by its largest shareholder, Mike Cannon-Brookes.
- Angela Macdonald-Smith and Anthony Macdonald
‘Grave concerns’ on AGL demerger: Wilson
“Small” AGL shareholder Geoff Wilson is worried the demerger will destroy value, but Cadence sees value in the stock whether or not the split happens.
- Angela Macdonald-Smith
AGL split ‘not going to fly’ after Labor win: Cannon-Brookes
The Atlassian co-founder has used the Labor win to intensify pressure on AGL to drop its demerger, but CEO Graeme Hunt says the split is the best way for it to decarbonise.
- Angela Macdonald-Smith
Grok v AGL: behind the proxy battle
A day out from the federal election, Atlassian co-founder Mike Cannon-Brookes is halfway through a campaign of his own – to stop the split of AGL.
- Lucas Baird
Cannon-Brookes’ AGL mailout stokes transition FOMO, dividend fears
Mike Cannon-Brookes has told AGL’s nearly 150,000 shareholders that the company’s plan to split in two risks future dividends and destroys value in a new letter.
- Lucas Baird
Extremely underwhelmed: Snowcap on AGL demerger
UK-based investor Snowcap said AGL’s proposed demerger only serves the interests of AGL’s leadership and advisors, but the alternative is still under question.
- Angela Macdonald-Smith
Coal closure timing at core of AGL fight
Just how quickly coal power plants can be switched off, and whether a demerged or integrated AGL is best placed to shut them, is up for debate.
- Angela Macdonald-Smith
UBS doubts about AGL bode well for Cannon-Brookes
The bank’s questions about the costs of the split and whether the retail business would be re-rated by the market have supported Mike Cannon-Brookes’ criticism.
- Angela Macdonald-Smith
AGL CEO queries ‘end game’ of Mike Cannon-Brookes
Graeme Hunt says the company is “asking questions” to ensure shareholder interests are protected as he accuses the tech mogul of trying to hurt the share price.
- Updated
- Angela Macdonald-Smith
AGL has five weeks to win shareholders over to its demerger
AGL chairman Peter Botten has urged shareholders not to be distracted by the fiction” and “arm waving” of those such as Mike Cannon-Brookes when they decide how to vote on the demerger
- Angela Macdonald-Smith
AGL CEO counters ‘false claims’ on demerger
AGL Energy chief executive Graeme Hunt accused Mike Cannon-Brookes’ Grok Ventures of making “false claims” about the energy giant as the tech billionaire seeks to torpedo the company’s proposed split.
- Updated
- Angela Macdonald-Smith
Investors query Cannon-Brookes’ plans for AGL
Shareholders are wondering what the billionaire’s longer-term intentions are amid warnings that AGL’s business would be destabilised if the demerger vote fails.
- Angela Macdonald-Smith
‘Refresh’: Cannon-Brookes is in AGL for the long haul
The Atlassian co-founder says can AGL take advantage of the massive opportunity presented by the energy transition, but is focusing on voting down the demerger for now.
- Updated
- Angela Macdonald-Smith