Original article by Jennifer Hewett, Alice Uribe
The Australian Financial Review – Page: 1 & 19 : 30-Apr-18
Institutional investors have warned that they will vote against the re-election of three AMP directors at the upcoming AGM, even if chairman Catherine Brenner resigns. She is widely tipped to step down in the wake of a board meeting on 29 April. CEO Craig Meller recently resigned after misconduct at AMP was exposed by the banking royal commission. The revelations have weighed on AMP’s share price, which has fallen to its lowest level in more than five years.
AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FIRST SUPER PTY LTD, LGSS PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, REST SUPER PTY LTD, HOST-PLUS, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CGI GLASS LEWIS PTY LTD, BELL POTTER SECURITIES LIMITED, COCA-COLA AMATIL LIMITED – ASX CCL, BORAL LIMITED – ASX BLD, BRAMBLES LIMITED – ASX BXB