A leading governance group has raised concerns about the tech billionaire’s use of complex derivatives in his bid to block AGL’s shareholder vote.
Tech billionaire Mike Cannon-Brookes says an investor revolt is slowly building at power giant AGL amid deepening frustration with the board.
Mike Cannon-Brookes will step up a push to block the planned break-up of AGL this week,pointing to huge risks he says will destroy shareholder value.
Tech billionaire Mike Cannon-Brookes’ intervention has added to significant questions about AGL’s role in the clean-energy transition and its blueprint for the future.
AGL says it will consider earlier closures of its coal-fired power plants if the grid can handle their withdrawal as it seeks to fend off Mike Cannon-Brookes’ campaign to scuttle its demerger.
Mike Cannon-Brookes and AGL’s CEO have clashed over their competing visions for the energy giant,as a major investor expressed doubts about the company’s planned break-up.
The tech billionaire has spent $654 million and plans a media blitz as he leaves nothing to chance in his bid to thwart AGL’s demerger plan. He has a good chance of succeeding.
Tech billionaire Mike Cannon-Brookes has become power giant AGL’s biggest shareholder and declared he will use his stake to vote against the company’s plans for the future.
Australia’s top power supplier has struck a deal to buy a biogas firm in its latest move to diversify away from fossil fuels.
AGL says an outage at Loy Yang A could last until August,while technical issues have also taken two units at Yallourn Power Station offline.
AGL has won planning approval to build a big battery that it hopes will transform the site of its Liddell coal-fired power station into a low-carbon ‘energy hub’.