Cannon-Brookes’ board picks assure AGL of independence

have simultaneously declared their independence from the tech billionaire in response to doubts voiced by AGL chairman Patricia McKenzie and others.

She said the board needed to represent “100 per cent of the shareholders – and 88 per cent of those are not Grok”. The declarations state that the relevant candidate is “not required or expected, nor have I given any promise or commitment of any kind, verbal or in writing, to act in accordance with any instruction or public statement by Gali, Grok Ventures or Mr Mike Cannon-Brookes or any other shareholder of AGL”. Gali refers to Galipea Partnership, an entity associated with Grok and Mr Cannon-Brookes.

“So while I haven’t been on a listed board before I did lead transactions and advise on listings for big companies, including GIO and AMP and National Mutual – I was working on that stuff at the time that banks and insurance companies were privatising – and I am not a neophyte when it comes to the procedures around listing requirements and all that stuff,” Dr Schott said.

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