Today, AGL announced to the ASX that our Managing Director and CEO, Michael Fraser, has advised the AGL Board of his intention to retire from the role by 30 June 2015.
Michael will complete 30 years of service at AGL this month, and commence his eighth year as Managing Director in October. As noted in the ASX release, AGL's Chairman, Jerry Maycock commented "Michael has provided outstanding leadership to AGL and is a great role model for our organisation. Under his guidance, AGL has developed very substantially into one of Australia's leading vertically integrated energy companies. We will be sorry to see him leave, but absolutely respect his decision. In keeping with Michael's passion for the organisation, he remains very committed to the Company's business outcomes for the remainder of his term".
The Board has commenced a selection process for a new Managing Director and CEO, and will consider both internal and external candidates.
All of us here at AGL wish Michael all the very best for the future.