AMP chair Catherine Brenner’s position is ‘untenable and she should either resign immediately or step down’ in light of the revelations in the banking royal commission, the Australian Shareholders Association says.
The association also says it will not back the re-election of directors Holly Kramer and Vanessa Walker.
In its voting intentions for the AMP’s forthcoming May 10 annual general meeting, the ASA says in a statement on its website ‘the evidence coming out of the royal commission has overshadowed our normal voting Intentions.
‘For that reason, we must say at the outset based on the material presented and the evidence of AMP employees, that the chairman Catherine Brenner’s position is untenable and she should either resign immediately or step down until such time as the independent investigation has taken place,’ it said on Thursday.
‘At the same time, AMP must urgently appoint some additional well credentialed, untainted people to the board’, irrespective of the voting outcome on the resolutions concerning Ms Kramer and Ms Walker.
The ASA says it is undecided about backing the election of a third director Andrew Harmos.