Australian tech billionaire and climate activist Mike Cannon-Brookes has clashed with AGL Energy’s board over its demerger plans after becoming the company’s largest shareholder.
This clash comes just short of two months after Cannon-Brookes failed to take over Australia’s largest electricity generator in March to speed up the company’s decarbonisation process.
The co-founder of the software company Atlassian posted in a thread on Twitter on May 2 that he had acquired 11.28 percent of AGL Energy’s shares, thereby becoming its largest shareholder and that he would be working to stop the proposed demerger (pdf) which would see the company split into two separate entities AGL and Accel Energy: an energy retailer and a coal-fired electricity generator.
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