Australia’s biggest energy generator has shelved plans to separate its power-generating and retailing business units following pressure from billionaire majority shareholder Mike Cannon-Brookes. AGL’s board said it still believed the demerger was the “best way forward,” but getting enough shareholder support would be hard. That means CEO Graeme Hunt and chairman Peter Botten are leaving, as will board members Jacqueline Hey and Diane Smith-Gander. AGL’s coal and gas-fired power stations account for circa 8% of Australia’s carbon footprint, and Cannon-Brookes has led calls for the demerger to be dumped. He reckons the best way to get climate action from AGL is to have the coal/gas-fired assets dragging on the company’s profits. The company will now review its “strategic direction”, and Cannon-Brookes wants them to rule out moves to sell the heavy-carbon emitting power plants.