AMP chairman Catherine Brenner steps down from board

AMP CEO Craig Meller stands on stage with chairman Catherine Brenner.AMP chairman Catherine Brenner has resigned following damning evidence at the banking royal commission of misconduct by the company’s staff.

In a statement, the financial services company said directors will take a 25 per cent pay cut for the remainder of 2018 as a result of the issues raised at the commission.

It is still considering “employment and remuneration consequences” for those staff directly involved in charging fees for no services.

Mike Wilkins has been appointed as executive chair of the financial services company, effective immediately.

via AMP chairman Catherine Brenner steps down from board – ABC News (Australian Broadcasting Corporation)