AMP announces further board departures

Three members of AMP’s board of directors (including the chair of AMP Capital Holdings) have announced their resignations, with two to leave before the next annual general meeting in Melbourne on Thursday.

In a statement, the company said both Vanessa Wallace and Holly Kramer will step down ahead of the AGM to be held this week, and that Patty Akopiantz will depart by the end of 2018.

The departures follow from the resignations of both AMP chief executive Craig Meller and AMP chair Catherine Brenner in the wake of the royal commission’s review of the business, which found AMP could be facing criminal prosecution.

AMP interim executive chair Mike Wilkins thanked the departing board members for their service.

"Our shareholders are demanding board accountability and need to know that meaningful change is underway. I’d like to thank Patty, Vanessa and Holly for their service to AMP,” he said.

“They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the board. They have listened to and acted on the feedback from our investors.”

Advertisement
Advertisement
AMP announces further board departures
AMP, AMP Capital, Craig Meller, Catherine Brenner, Royal Commission, Patty Akopiantz, Vanessa Wallace, Holly Kramer,
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.