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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...