AGL chair defends big payment to injured predecessor
The president of one of the largest electrical generators in Australia defended a payment of $ 720,000 after being seriously injured during a site visit two years ago.
President Miles George, who was questioned by the shareholders at the AGL’s annual general meeting in Sydney on Friday, refused to give details about how Patricia McKenzie was injured in August 2023.
In response to a question of the shareholder activist Stephen Mayne, “The details of the injury of Patricia are personal for Patricia, and therefore, in response to a question of the shareholder activist Stephen Mayne, I will explain any of the real injuries, where it occurs, how it happened, or something else.
“This is Patricia’s work.”
Mr. George said that the injury was serious and required more than one surgery.
AGL said that he made independent recommendations to determine a compensation regulation for Mrs. McKenzie, and the result was “worse and better than the injury of any employee in the AGL.
In addition to payment of $ 720,000, the company paid $ 11,000 for its medical fees.
Mr. George, the payment of the payment of the Agl’s director’s fee payments to exceed a limitation of $ 2.75 million determined by shareholders, and the payment is not like the wages of the manager, but compensation for a serious injury, he said.
The payment was first announced in the AGL’s annual report in August.
Ms. George resigned from the AGL board of directors in February.
On other issues, Mr. George admitted that the shareholders were disappointed with the AGL’s share price, which fell by about 20 percent.
Authorized, the AGL recently announced for 2025/26, said it is a key factor in the decline, but the guidance reflects the important investment of the AGL to present its long -term strategy.
“This ongoing investment is expected to lead to increasing depreciation and fire department in the medium term, which will affect the net profit level after the tax,” said George.
In the last financial year, AGL has purchased 21 batteries and six solar energy projects in the Avcı region of NSW, an electric vehicle software platform and two pump hydro storage projects.
This year, he bought a large virtual power plant from Tesla in South Australia and a large virtual power plant with solar panels and about 7000 Powerwall home batteries, and made a final decision to move forward with a battery project in the Port Stephens area in NSW.
Atlassian CEO Mike Cannon-Brookes, technology billionaire, 2022 in the Agl for the Coal production plan to eliminate the plan to eliminate a new direction set a new direction.
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