AGL, Cannon-Brookes board stoush heats up
Mike Cannon-Brookes, AGL’s largest shareholder, has written to investors as part of a campaign for the appointment of new directors to the power giant’s board.
Mike Cannon-Brookes, AGL’s largest shareholder, has written to investors as part of a campaign for the appointment of new directors to the power giant’s board.
The former AGL executive was in line to run the energy giant’s demerged retailing business before those plans were halted amid a shareholder revolt led by Mike Cannon-Brookes.
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Businessman Professor John Pollaers has listed the missteps of AGL Energy as a battle to form its new board heats up.
The Atlassian billionaire has written to investors advocating for four directors recommended by his private Grok vehicle – three of which are opposed by the energy giant.
The energy major will contest Grok Ventures campaign to install additional directors to its board after Mike Cannon-Brookes pledged to take its fight directly to shareholders.
ASX ends lower as bond yields surge and dollar falls. Mike Cannon-Brookes launches AGL board campaign, Baby Bunting dives on margins hit and Whitehaven downgraded.
Only one of the four people Atlassian billionaire Mike Cannon-Brookes wants to join the AGL board has won approval from the company ahead of its AGM.
ASX ends session lower on broad falls. Optus faces compensation claim, Whitehaven hits record high, AGL rebuffs Cannon-Brookes board picks and bear market until 2023.
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The billionaire will install former AGL boss Andy Vesey to run the North American business after the abrupt exit of Fortescue Future Industry’s local boss Paul Browning.
Neither company was prepared to give full-year earnings guidance this week. That shows the market is broken – despite all the talk of a green transition.
Profits at the nation’s biggest power generator slumped 58 per cent and investors are bracing for more poor returns as old power stations near retirement.
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RayGen’s Victorian storage project uses mirrors to capture sunlight, with energy stored in water reservoirs and converted to electricity through a turbine.
The energy giant has also brought on APA Group and Jemena as it develops the Liddell and Bayswater power station sites alongside Fortescue Future Industries.
Speculation is growing that AGL Energy may need to tap investors for an urgent equity raising of as much as $1bn.
The power giant’s fourth unit at the Liddell coal plant has been taken out of service for at least a week, adding to generation woes.
The woman who missed out on the top job at AGL Australia after the failed demerger of the energy giant says quotas may be needed to correct the ‘dire’ lack of women at the top.
The energy giant says it has been unable to get contract information for the collapsed retailer’s clients, leaving it unable to offer them gas at lower prices they agreed to.
Original URL: https://www.theaustralian.com.au/topics/agl-energy/page/7