St Baker slams Cannon-Brookes’ energy vision
Trevor St Baker has branded fellow billionaire Mike Cannon-Brookes a ‘software nerd’ without the energy experience to reshape AGL Energy.
Trevor St Baker has branded fellow billionaire Mike Cannon-Brookes a ‘software nerd’ without the energy experience to reshape AGL Energy.
It’s ironic that Mike Cannon-Brookes is now set to be a beneficiary from higher coal prices. Not every business will fare so well.
You know you’re among Sydney’s elite when school council AGM attendee Scott Farquhar is subject to zingers about the takeover style of Mike Cannon-Brookes.
AGL directors have offered to meet with Mike Cannon-Brookes as shareholders seek clarity on the billionaire’s blueprint for the troubled electricity operator.
AGL has dumped a plan to split its coal-fired assets from its retail electricity business – which will have huge ramifications. The experts take a closer look.
Minority shareholders and customers have been left out in the cold.
Peter Botten was eyeing up a curry on Saturday night when the phone rang. Rumours had started to circulate over the weekend that AGL’s demerger may be dead in the water.
AGL Energy is in crisis mode after dumping a demerger, its CEO and chairman following a successful campaign by Mike Cannon-Brookes against the company split.
AGL Energy’s decision to abandon its plan to split into two companies won’t have any impact on the planet but will mean the end of cheap, plentiful and reliable electricity.
The group’s board exodus and the abandonment of its planned demerger should be a warning to all companies that are going slow on energy transition.
Jeremy Kwong-Law has had an interest in the AGL Energy demerger for more than a year. And as the Atlassian billionaire’s right hand man, he has plenty of sway.
Climate and financial risks are being weighed up by a top 10 shareholder in AGL ahead of a demerger vote.
AGL has held meetings with its largest shareholders, including Mike Cannon-Brookes, and says it will be an ‘engineering impossibility’ to close its coal power plants by 2030.
The country’s largest electricity generator says the big jump this year in coal and gas costs would inevitably flow through to consumers’ bills.
AGL Energy boss Graeme Hunt says its largest investor, Mike Cannon-Brookes, may be plotting a third takeover attempt for the power giant.
AGL’s demerger plan fails to meet climate goals expected by its shareholders, Mike Cannon-Brookes said.
Mike Cannon-Brookes’ Grok Ventures is expected to tell institutional shareholders their dividends will be hit by a demerger.
A five-week countdown has started on the high stakes demerger vote, as AGL’s chair says he has no plans to prioritise discussion with its biggest shareholder.
ASX record worst week since October 2020. Tech, real estate and communication stocks hit hard, Bendigo Bank lifts rates, Macquarie record profit and RBA ups wages outlook.
AGL Energy chief executive Graeme Hunt has accused Mike Cannon-Brookes of making false claims about the company’s demerger plans.
Original URL: https://www.theaustralian.com.au/topics/agl-energy/page/10