AGL shakes up APG board

Suitor appoints three directors after taking an 81% stake in the target.

AGL Energy (AGK) has appointed three directors to the Australian Power and Gas Company (APG) board and announced a change of CEO after taking voting power of approximately 81% in the target.

In a statement to the Australian Securities Exchange, AGL said it intended to exercise its right to appoint a majority of directors to the target's board after its voting power exceeded 50 per cent.

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