Three AMP directors up for re-election at AGM following royal commission revelations Sign up to receive the top stories in Australia every day at noonShareholders have been urged to clean out the AMP board at this week’s general meeting, both to deter future misconduct and kickstart the process of renewal at the embattled wealth manager. Three AMP directors are up for re-election at Thursday’s meeting and need the endorsement of investors angry at the wealth manager’s performance and the string of scandals exposed in the royal commission. “I’m not defending anybody on the AMP board but they have to decide whether they want anger to prevail, or they’re confident that I can make the appropriate changes over time.”The Australian Shareholders’ Association said a period of instability was regrettable but necessary. The royal commission heard AMP had interfered in a report prepared by the law firm Clayton Utz to minimise the involvement of senior executives. The royal commission has previously heard evidence that suggested Brenner was involved in viewing and suggesting amendments to the Clayton Utz report.

Source: The Guardian May 07, 2018 02:48 UTC