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AAP
AAP
Business
Derek Rose

AGL cans split plan, leadership to quit

AGL AGL Energy Mike CannonBrookes Grok Ventures

AGL Energy has ditched its plans to spin off its coal plants following strong opposition from tech billionaire Mike Cannon-Brookes.

The energy giant said it didn't believe the proposal would receive the required three-quarters vote at a shareholder meeting June 15.

AGL chairman Peter Botton and chief executive Graeme Hunt plan to resign as soon as replacements are found, as the energy giant looks for a path forward. Two non-executive directors are also out.

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