Page 8 - Peter Botten News Today

Mike Cannon-Brookes was only just getting warmed up at AGL Energy, when the dominoes started to fall. 

HESTA has welcomed the decision by AGL to scrap its de-merger plan, after spending an estimated $160 million, and the chief executive and chairman resigned.

The tech sector surged 4.6 per cent on Monday as risk assets rallied on hope the US’s rate of inflation has peaked. Brent crude oil topped US$116 a barrel.

Mike Cannon-Brookes has blocked AGL’s demerger – for now. But can he force it to accelerate the closure of its coal and gas-fired power stations?

Billionaire Mike Cannon-Brookes wants to shut down AGL Energys coal-fired power plants a decade early. But an energy expert warned this could push up electricity bills.

Australia’s biggest electricity supplier and carbon emitter – AGL Energy (ASX: AGL) – faces a very uncertain future after the withdrawal of its board plan to split the company into two.

The incumbent creative agency withdraws from the contest as AGL faces ongoing challenges from shareholders over its plan to demerge into two separate businesses.

Chairman Peter Botten will resign and CEO Graeme Hunt will step down after the giant electricity supplier scrapped a plan to split the business.

AGL Energy Ltd. could launch a strategic review as early as Monday as doubts grow over the Australian power producer’s plans to split into two companies, the Australian newspaper reported. AGL was mulling its options on Sunday amid market speculation that breaking the company into retail and generation units may lack the shareholder support to go ahead, the newspaper said. AGL

SYDNEY (Reuters) - AGL Energy Ltd could launch a strategic review as early as Monday as doubts grow over the Australian power producer's plans to spli...