The AMP board has appointed an interim chair after the announcement yesterday that current chair, Simon McKeon, will step down.
In a statement to the ASX, AMP announced that Mr McKeon will retire at the conclusion of the AGM in May.
At the same time, board member John Palmer has agreed to become interim chairman until a permanent appointment is made.
"As a result, he will postpone his retirement from the board until a new Chair is in place," the AMP statement said.
Commenting on his retirement, Mr McKeon said: "I am disappointed to leave the board following a change in my circumstances. It has been an honour to be the Chairman of AMP Limited. I have every confidence in the strategy and management team and believe that AMP is well positioned to grow over the long term."
The board thanked Mr McKeon for his contribution to AMP over the past three years and paid tribute to his focus on the opportunities for future growth for the company.
When financial failures occur and accountability can’t be pinpointed clearly, often it is the adviser that gets ...
When dealing with high-risk investment portfolios and platforms, it is important advisers manage expectations even when ...
Orbis Investments has added a new marketing head to extend its reach to advised retail investors as part of its “next ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin