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Three non-executive directors have announced their resignation from the AMP Limited Board.
Vanessa Wallace and Holly Kramer will step down ahead of the Annual General Meeting. In addition, as the longest serving director, Patty Akopiantz has offered to step down and will serve until the end of 2018, recognising the need for a measured process of board renewal.
Wallace has 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.
The new chairman of the AMP Limited Board was announced last week as David Murray AO. Current acting chairman Mike Wilkins will then move to the role of acting chief executive officer.
When Murray was appointed he said one focus of his was complete board renewal to restore trust and stability in the group after allegations out of the Royal Commission.
After the most recent announcement, Wilkins said, "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. 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.”
AMP confirms the resolution for the election of Andrew Harmos as non-executive director remains in place and will be voted at the AGM.
New board chairman Murray will lead the redevelopment of governance processes at AMP including a process of considered board renewal and the appointment of an additional non-executive director in the near term.
He will also work with Wilkins in leading the search process for a chief executive officer for AMP. Following the appointment of a new CEO, Wilkins will return to his role as a non-executive director.
