Tech billionaire Mike Cannon-Brookes says AGL Energy’s demerger plan is “not going to fly” after Labor’s win in the federal election because it is not aligned with Paris climate goals, a declaration that brought a swift rebuttal from AGL chief executive Graeme Hunt.

The AGL board “should pay attention to its shareholders and the mood of the country,” the Atlassian co-founder warned, using the win by Labor – with its more ambitious targets for emissions reduction – to ramp up his campaign against the split of AGL, which goes before a shareholder vote on June 15.