AGL Energy Limited (AGL) has today announced that the Board has appointed Brett Redman as Chief Executive Officer & Managing Director on a permanent basis. Mr Redman has been AGL’s interim CEO since 24 August 2018 and was previously Chief Financial Officer. The appointment is effective 1 January 2019.
AGL Chairman, Graeme Hunt, said: “Brett’s appointment follows a domestic and international search process that included strong internal and external candidates, as a result of which the Board formed a unanimous view that Brett is the right person to lead AGL in the years ahead.
“Having had the opportunity to work with Brett during his four months as interim CEO, the Board has been greatly impressed with the manner in which he has led the business. He has demonstrated an energy and rigour and a commitment to culture and performance that has been welcomed by all.”
Mr Redman said: “It’s a great honour for me to get the opportunity to represent AGL’s people as CEO on a permanent basis. We have strong momentum with our commitments to safety, our customers, our people and our financial performance. The team is focused on driving growth, to the ongoing transformation of our business and to investing in our social licence at a time of immense scrutiny in our sector.”
Mr Redman was AGL’s CFO from 2012, having joined AGL in 2007 and has more than 25 years’ experience in senior roles in blue-chip industrial companies in Australia and North America.
A search process has also commenced for the Chief Financial Officer position. Damien Nicks, who has been interim CFO since August 2018, will continue to serve in this role until a permanent appointment is made.
Attached are details of Mr Redman’s remuneration and other key aspects of his service agreement.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.