AGL appears set to dump demerger plan, yielding to Mike Cannon-Brookes

Board to meet on Monday, with future of chief executive also up in the air if demerger is called off

AGL Energy’s board will meet on Monday and is expected to ditch the plan to split its operations, surrendering to a campaign by billionaire climate activist Mike Cannon-Brookes to foil the move.

Neither AGL, Australia’s biggest electricity generator, nor Cannon-Brookes would comment on the meeting, but bankers and consultants briefed some media outlets over the weekend that the demerger would be scrapped.

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from World news | The Guardian https://ift.tt/oU8l7pu