CANBERA (dpa-AFX) - AGL Energy Limited's (AGK.AX, AGLNF.PK) shareholders elected all four board candidates nominated by activist investor Mike Cannon-Brookes.
At 2022 Annual General Meeting, AGL Energy's Chair Patricia McKenzie said that the election of Mark Twidell, Kerry Schott, Christine Holman and John Pollaers as Directors has been supported by the company's Shareholders. The Board welcomes the new Directors to the Board and will work constructively with them in the best of interests of shareholders.
Cannon-Brookes' investment vehicle, Grok Ventures, had proposed the four candidates for AGL's board.
McKenzie confirmed that the process for appointing a new CEO is continuing as planned and there is currently a short list of Australian and global candidates.The company expects to announce the permanent CEO in the coming months.
McKenzie noted that AGL is likely to receive a 'first strike' on the Remuneration Report due to a couple of large shareholders voting against it. This is a disappointing result given that all major proxy advisors recommended that shareholders vote in favor of the report and no material concerns were identified.
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