Australia’s AGL Energy names board member McKenzie as chair

The emblem of AGL Power Ltd, Australia’s no.2 energy retailer, adorns the constructing of their head workplace in Sydney, Australia, February 8, 2017. Image taken February 8, 2017. REUTERS/David Grey/File Photograph

Sept 19 (Reuters) – AGL Power (AGL.AX) mentioned on Monday board member Patricia McKenzie would substitute Peter Botten as chair, as a part of an overhaul after the ability producer scrapped plans to separate its coal-fired era unit from the vitality retail enterprise.

AGL is about to spell out plans for a brand new technique later this month after caving in to a push by its high shareholder, tech billionaire and local weather activist Mike Cannon-Brookes, to make the corporate speed up the closure of its coal-fired crops. learn extra (https://reut.rs/3S3IPMz)

McKenzie is presently the chairperson of New South Wales Ports, and has additionally served as a director of pure gasoline operator APA Group (APA.AX) and a member of the council of Australian authorities’s Nationwide Power Reform.

The appointment comes months after Cannon-Brookes, by his funding automobile Grok Ventures, blocked AGL’s demerger plan and led Botten and AGL Chief Government Officer Graeme Hunt to step down. (https://reut.rs/3S3IPMz)

The Australian firm mentioned outgoing CEO Hunt will full his function on Sept. 30, and Chief Monetary Officer Damien Nicks can be appointed as interim chief government.

The method for appointing a brand new chief government officer is on, as deliberate, and we’ve got a shortlist of Australian and international candidates, the corporate mentioned.

Reporting by Upasana Singh and Navya Mittal in Bengaluru; Enhancing by Devika Syamnath and Sherry Jacob-Phillips

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