Brett Redman, managing director and CEO of Australia’s AGL Energy, has resigned after almost 15 years with the company, effective immediately.
According to AGL, Redman advised the board that he believed he could not make a long-term commitment beyond the proposed structural separation announced on March 30. As a result, the board agreed it was appropriate to put in place alternative leadership arrangements to facilitate the proposed structural separation.
The structural separation involved AGL splitting into two companies — a retail power and gas utility and an infrastructure firm that holds the company’s power plant assets. The spin-off strategy was expected to be completed by the end of fiscal year 2021.
Redman’s resignation as a director is effective immediately, but he will remain available to AGL until his notice period expires on Oct. 21.
“After almost 15 years with AGL, I am proud of the contribution I have made to growing Australia’s l
