(Reuters) – AGL Energy’s top shareholder, Grok Ventures, nominated four additional directors to the power producer’s board on Wednesday, one day before the Australian firm is scheduled to spell out plans for a new business strategy.
Tech billionaire and green activist Mike Cannon-Brookes, via his private investment arm Grok Ventures, has been vying for more influence and control at AGL, pushing it to speed up the closure of its coal-fired plants and overhaul its strategy to focus on decarbonisation and renewable energy.
AGL is set to announce details of the new strategy on Thursday.
The current five-member board “would benefit greatly from new directors who bring different and much needed skills to undertake the urgent transformation of AGL,” Grok Ventures in a statement.
AGL did not immediately respond to a Reuters request for comment.
Last week, Cannon-Brookes questioned the promotion of AGL board member Patricia McKenzie to chair and he had previously blocked AGL’s plan to split its coal-fired generation unit from the energy retail business.
AGL’s shareholders will vote on board nominations at its annual general meeting scheduled for Nov. 15.
(Reporting by Sameer Manekar in Bengaluru; Editing by Dhanya Ann Thoppil and Savio D’Souza)
