- AGL Energy (AGL) moves to secure its interim directors into permanent roles
- The appointments of Chief Executive and Managing Director Damien Nicks and Chief Financial Officer Gary Brown follow a “comprehensive domestic and global search process”
- AGL’s board unanimously chose Mr Nicks as the ideal candidate to lead “one of the most significant decarbonisation initiatives in the country”
- The changes complete the giant’s board and management renewal process, shifting its focus towards accelerating AGL’s decarbonisation efforts moving forward
- AGL shares last traded at $7.70 at 2:55 pm AEDT
AGL Energy (AGL) has moved to secure its interims into permanent positions.
The company today announced Damien Nicks and Gary Brown as the company’s newest CEO and Managing Director, and Chief Financial Officer, respectively.
Damien Nicks first joined AGL in 2013, serving as CFO from August 2018.
He then replaced retiring CEO Graeme Hunt back in October 2022 on an interim basis, with AGL confirming it was conducting a “comprehensive domestic and global search process.”
Following this, AGL’s Chair, Patricia McKenzie said the board unanimously chose Mr Nicks as the ideal candidate to become its newest CEO and Managing Director, who will lead one of the “most significant decarbonisation initiatives in the country”.
“The Board has been particularly impressed by Damien’s leadership of the business, including his role in championing AGL’s new strategy and his commitment, vision and fresh approach to accelerate the energy transition and to deliver value for AGL’s customers and position AGL for future growth,” she said.
“Damien’s leadership, deep energy expertise and project delivery experience in complex and large organisations is well established and he has the strong support of AGL’s employees, as well as other key stakeholders.”
Interim CFO Gary Brown was also appointed on a permanent basis today, after first joining the energy giant in January 2022. Mr Brown previously served as CFO-elect for Accel Energy from ENGIE, and held other ASX-listed CFO positions.
“AGL now has nine experienced Non-Executive Directors and a strong management team that are aligned and focused on accelerating AGL’s decarbonisation and delivering value for shareholders,” Ms McKenzie commented.
The announcement offers a boost for AGL, vying to become an integrated low carbon energy leader.
AGL shares last traded at $7.70 at 2:55 pm AEDT.