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Financial services giant AMP has announced that three non-executive directors have chosen to resign from the company’s board.
Vanessa Wallace and Holly Kramer will step down ahead of the firm’s annual general meeting. Wallace also resigned as chairman of AMP Capital Holdings Limited. The effective date will be confirmed following a brief period of transition to allow the effective transfer of the chairmanship.
Additionally, AMP’s longest serving director Patty Akopiantz offered to step down and will serve until the of end 2018 recognising the need for a measured process of board renewal.
On April 20, AMP issued an unreserved apology for its misconduct and failures in regulatory disclosures in Australia. A week after this, AMP Australia chairman Catherine Brenner resigned as chairman and stepped down from the board.
“Our shareholders are demanding board accountability and need to know that meaningful change is underway,” AMP interim executive chairman Mike Wilkins said. “I’d like to thank Patty, Vanessa and Holly for their service to AMP.”
“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,” he added.
Moreover, AMP said the resolution for the election of Andrew Harmos as non-executive director remains in place and will be voted at the AGM.
