New chair opens up opportunity for step change at AGL

The Australasian Centre for Corporate Responsibility​ (ACCR)  is commenting on the announcement that AGL Energy Limited Chair, Patricia McKenzie, will retire in February 2025 and will be replaced by Miles George as Chair -elect.

Harriet Kater, Impact Lead at the Australasian Centre for Corporate Responsibility (ACCR) said:

“The rate of change and ambition in AGL’s strategy following the significant board renewal in 2022 has been underwhelming to date.

“A new Chair at AGL, in the form of renewable energy veteran Miles George, provides a huge opportunity to unlock all the benefits of the renewed board and to drive the cultural change required to swiftly transition Australia’s largest greenhouse gas emitter.

“Patricia Mackenzie was not the right leader for the AGL of today. Amidst the tumult of the board renewal at AGL in 2022, ACCR recommended against her re-election over governance concerns and her role on the board during multiple years of shareholder value destruction.

“With AGL presenting a revised Climate Transition Action Plan (CTAP) to shareholders for a vote in 2025, expectations are now raised for an enhanced strategy that is ambitious, nimble and value accretive.