On Tuesday morning, AMP announced that Alexis George will retire from executive roles effective 30 March 2026, following almost five years in the role.
Blair Vernon, who has been AMP group CFO since July 2023, will replace George in the top job.
George took over as AMP chief executive from the embattled Francesco De Ferrari in August 2021.
AMP said Vernon brings “extensive experience” from over 30 years’ experience in financial services in Australia and New Zealand.
“This leadership change marks a new chapter for AMP, building on the strong foundation established under Ms George’s tenure,” the firm said.
George said she is “proud of our achievements over the past five years”.
“While it was not an easy decision to retire from executive roles, I am confident that AMP is well positioned for future success. Leading AMP, a company integral to Australia and New Zealand, has been an honour. I wish Blair and AMP continued success and will remain a strong supporter,” she said.
AMP chair Mike Hirst thanked George for her time at the helm of the firm, saying she had “guided AMP through a significant transformation that has streamlined the organisation and focused each business on its strongest growth opportunities”.
“She stabilised the business and oversaw the successful sale of AMP Capital and the Advice business whilst building a customer focused culture,” Hirst said.
“Alexis has advanced AMP’s transformation and culture and delivered strategic initiatives that will underpin the next phase of growth. In particular, her clear achievement of building a strong executive team will ensure continued momentum in the business and position AMP for future success. I wish Alexis well for the future.”
He added that Vernon’s appointment follows a “rigorous” search and selection process.
“The board was unequivocal in its view that Blair brings the right breadth of experience and capability to lead AMP in its next phase of growth as CEO. He is keen to deliver strong performance for our stakeholders and has played a key role in improving our position in the financial services industry,” Hirst said.
“Blair has built confidence by tightening financial management, steering our capital return program and successfully executing both the AMP Capital separation and the AMP Advice sale and partnership. The board congratulates Blair on his appointment and looks forward to working with him and our excellent leadership team to build on the positive momentum within the business.”
Vernon said it is a “privilege” to take on the CEO role at AMP.
“AMP is delivering against its strategy, and I look forward to continuing to work with my colleagues in executing our strategic ambitions and delivering positive outcomes to customers, shareholders, communities and colleagues,” he said.
“I want to thank Alexis for her incredible contribution to AMP and all its stakeholders, and for her support over so many years. I wish her well for the future and look forward to continuing to work with her during our transition.”
According to AMP, George will stay in the CEO role until 30 March 2026, and will then be available to assist with handover and ongoing support.
The company said a process will now be undertaken to appoint a new CFO.
The people who made the decision to appoint Fransesco De Ferrari accompanied by a huge sign on fee, plus massive salary & bonuses & f*#k off money should forever hang their heads in shame as complicit in driving AMP into the worst moral & ethical period of its entire existence.
The complete failure of AMP to have ever appointed an international CEO that hasn’t turned into a reputational, financial and brand disaster is very well known.
They will forever be remembered as burning those at the stake who supported & built their business for decades.
An absolute disgrace.