Melbourne pinches top HQ from Sydney

AGL Energy – one of Sydney’s oldest companies that lit the city’s first streetlights 180 years ago – will move the headquarters of its demerged businesses to Melbourne.

It will also cull several of its big name executives in a major corporate shake-up.

The power giant, which plans to split into two by the end of 2022, told staff both its retail arm AGL Australia and coal-focused generation unit Accel Energy would be based in Melbourne as part of slimmed down businesses with top executives also set to depart.

AGL’s last chief executive, Brett Redman, was based in Sydney along with the legal, finance and corporate affairs functions. However, both AGL Australia head Christine Corbett and Accel CEO Graeme Hunt live in Melbourne, which was a factor in the decision.

Four of its nine-strong executive team will leave as part of the shake-up.

AGL’s future business and technology boss John Chambers, corporate affairs head Liz McNamara, strategy boss Joao Segorbe and company secretary John Fitzgerald, will all leave next year.