Wall St rallied on Friday, setting up the ASX for a good day out to start the week. US government data that showed inflation had begun to wane in April,.
AGL says it will conduct a “strategic review” and has announced a “renewal” of its leadership after abandoning a controversial plan to split the company in two.
The breadth of AGL’s capitulation to Mike Cannon-Brookes is breathtaking. But the billionaire’s stake shouldn’t give him outsized influence on AGL’s future.
Following shareholder opposition underscored by ESG concerns, AGL will no longer pursue a demerger; a move that sees the departure of its chief executive Graeme Hunt and chair Peter Botten.