Top AGL Energy shareholder nominates four board members

AGL Energy’s largest shareholder, Grok Ventures, nominated four new board members on Wednesday, one day before the company’s announcement of a new business strategy.

Grok Ventures, AGL Energy‘s largest stakeholder, nominated four new board members on Wednesday, a day before the company unveils a new business strategy.

Mike Cannon-Brookes, via his private investment arm Grok Ventures, is urging AGL to speed up the shutdown of its coal-fired plants and focus on decarbonization and renewable energy.

Thursday, AGL will announce its new strategy.

Grok Ventures said the current five-member board needs additional members with various talents to revamp AGL.

AGL didn’t immediately comment to Reuters.

Last week, Cannon-Brookes questioned AGL board member Patricia McKenzie’s promotion to chair. He had previously vetoed AGL’s intention to divide its coal-fired generation unit from the energy retail business.

AGL’s annual general meeting is Nov. 15. Shareholders will vote on board nominations.

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