Original article by Tony Boyd
The Australian Financial Review – Page: 1 & 4 : 1-Aug-18

Recently appointed AMP chairman David Murray has criticised the ASX corporate governance principles. Murray says they result in board directors having to wade through too much paperwork, leaving them with insufficient time to deal with important strategic issues. He claims the governance principles have contributed to the recent problems that have afflicted AMP and other companies in the financial services sector. The ASX governance principles require boards to have a series of committees with independent chairmen covering areas such as risk and remuneration. Murray has held for some time the view that these committees can undermine the authority of the CEO, as their chairs can establish special relationships with a company’s other senior executives.

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