AGL Energy will move the headquarters of its demerged businesses to Melbourne and slim down its senior executive ranks as part of its proposed split to create a leaner power generation business, Accel Energy, and retail-focused AGL Australia.
Four of the nine-strong top executive team will leave the company when or after the demerger takes place, including general counsel John Fitzgerald and executive general manager of corporate affairs Elizabeth McNamara.
EGM of future business and technology John Chambers will exit in February, while Joao Segorbe, EGM of strategy and corporate development will also leave when the demerger takes place, expected at the end of June next year.
The decision to relocate the head offices of both Accel and AGL Australia to Melbourne is understood to be dictated by that city being the location of both designated CEOs, Graeme Hunt, and Christine Corbett, respectively.
“Both organisations will be headquartered in Melbourne and both will continue to have a strong presence in Sydney,” an AGL spokeswoman said.