News: AGL Australia's AGL starts new CEO hunt, 'well advanced' in new chairman search

June 23 (Reuters) - AGL Energy (AGL) said on Thursday it had begun a global hunt for its chief executive officer and was "well advanced" in its search for a new chairman, after the power producer's botched demerger plans last month led to their impending departures.

Australia's top power producer had launched a strategic review after ditching plans to split the company into AGL Australia, an energy retailer, and Accel Energy, a power producer.

The company's CEO and managing director, Graeme Hunt, and the chairman, Peter Botten, stepped down, along with two other board members after the botched demerger plans.

While the strategic review is being carried out by the remaining board members and co-chairs of the subcommittee Graham Cockroft and co-chair Vanessa Sullivan, AGL said it was now searching for a new chair, managing director, and CEO.

The strategic review, the initial outcomes of which will be presented in September, will focus on taking into account the existing plans for AGL and Accel Energy, the decarbonisation goals, determining an optimal energy mix, and exploring possibilities for capital structure of the integrated company, AGL said.