AGL to announce new management structure

AGL Australia chief executive Christine Corbett.

AGL Energy is in the final throes of naming dual executive management teams as the power giant charges ahead with a historic split into two companies.

DataRoom understands staff will be told as early as Tuesday about a suite of roles covering both AGL Australia – its green retail arm – and Accel Energy, home to Australia’s biggest fleet of coal plants.

So far only four executive positions have been confirmed with Christine Corbett in charge of AGL Australia and her former chairman and now AGL’s CEO – Graeme Hunt – appointed Accel’s chief executive.

Numbers man Damien Nicks will keep the same gig under Ms Corbett while chief operating officer Markus Brokhof will take on the same role at Accel with a deputy CEO title, a potential nod to speculation he was in the running for Hunt’s role.

For the rest of AGL’s top brass, it’s been an uneasy wait to discover if their jobs will still exist and which of the two companies they may be slotted into.

Talk in the company’s Sydney and Melbourne offices has also focused on both units being lean, slimmed down businesses.

Both strategy and corporate affairs – currently separate roles in the executive leadership team – could be under threat or combined with other corporate functions such as people and culture.

The other hurdle is the size of the companies themselves should the split proceed. Neither will be in the same ballpark as AGL currently which could lead some to opt out.

Nailing down the roles will at least be another tick for AGL chairman Peter Botten along the fast-moving path to demerger and ahead of a landmark annual general meeting three weeks away on September 22.