SYDNEY, AAP – Former AMP chair Catherine Brenner, who presided over the company’s fee-for-no-service scandal uncovered by the banking royal commission, has been elected to the board of Westfield owner Scentre Group.
The Australian Shareholders Association (ASA) and prominent activist Stephen Mayne were among those to vote against Ms Brenner’s election at the annual general meeting.
ASA boss Rachel Waterhouse said Ms Brenner was on the AMP board and chair when some of the most serious revelations of inappropriate conduct were aired at the royal commission.
During the meeting on Thursday, Mr Mayne asked whether Ms Brenner had regrets about her time at AMP.
Scentre Group chair Brian Schwartz answered on her behalf and said Ms Brenner had been to the “school of hard knocks”, which was a great place to learn.
Preliminary results from the meeting showed 82 per cent of votes were cast for Ms Brenner’s election. There were 18 per cent of votes against.
Ms Brenner is chair of Australian Payments Plus, which includes Bpay and Eftpos.
She resigned as AMP chair in 2018 after the company admitted charging clients for advice they never received and then lying to the corporate watchdog.
At the time, she said she was accountable for governance.
Scentre also avoided a second “strike” against its executive pay report after security-holders voted in favour.
Scentre securities on the ASX were up one per cent to $3.10 at 1145 AEST.