AMP chair Catherine Brenner and group general counsel Brian Salter will exit the company just one week after the immediate resignation of CEO Craig Meller. The pair will leave the company, with interim CEO Mike Wilkins now announced as executive chair. A statement from the firm also stated that a review by external counsel including King & Wood Mallesons has found the board did not act inappropriately in relation to an independent review questioned by the royal commission.
A search for a permanent CEO and chair is currently underway. Mr Salter’s outstanding deferred remuneration will be forfeited as a result of the AMP board exercising its discretion, said the company in a statement. “The board has received advice from Philip Crutchfield QC, Tamieka Spencer Bruce of Counsel, and Tim Bednall of King & Wood Mallesons in relation to certain issues raised in the royal commission concerning the preparation of the Clayton Utz report on AMP’s fee for no service issue,” said AMP.
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