TCI Ousts Australian Energy Co. Chairman

Nov 15 2010 | 10:51am ET

A long layoff from shareholder activism hasn’t dulled The Children’s Investment Fund’s facility for it. The London-based hedge fund has successfully tossed out the chairman of an Australian energy company after remaining on the sidelines for more than a year.

It has certainly been a rough year for the firm, which has suffered from poor performance and a string of high-profile departures, including all but one of its founding partners. The fund, which once managed US$10 billion, is now down to US$6 billion.

But TCI and founder Christopher Hohn are back in action. Amidst pressure from the hedge fund, Graham Kelly has resigned as chairman of Infigen Energy—the former Babcock and Brown Wind Partners. Tony Battle, head of the company’s board nomination and remuneration committee, has also resigned.

According to a statement to the Australian Stock Exchange, both men have also left Infigen’s board of directors entirely. That board has since elected Mike Hutchinson its new chairman.


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