Grok Ventures CEO Jeremy Kwong-Law says the successful energy supplier of the future will look vastly different from AGL.
AGL Energy’s depleted board needs to reject any takeover offers for its in-demand retailing business – however rich – and grab the opportunity to transform itself into a tech-led energy company with a completely transformed business model, says the CEO of Mike Cannon-Brookes’ private firm Grok Ventures.
. The collapse of the demerger proposal last month claimed the scalps of chairman Peter Botten, CEO Graeme Hunt and two non-executive directors, and triggered a strategic review by the remaining board members. “We don’t want the company doing a strategic review where the board doesn’t actually have a mandate to go and do that,” Mr Kwong-Law said at the forum.
“The future energy business is one that is a much more circular company than a one-way street company: you need to think about your consumers not just as consumers but also producers, and how do they on the grid soak up energy and also deliver energy back to the grid,” he said.
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