Ross Illingworth
Melbourne, Vic
Australian Financial Review
OPINION
22 April 2018
The steps taken by the AMP board to restore faith and trust in one of Australia's oldest financial institutions do not go far enough.
Catherine Brenner, AMP's chairwoman, missed the opportunity to fall on her sword and follow CEO Craig Meller out the door. This would have signalled to shareholders the board has taken some responsibility for the loss of faith and trust in AMP.
The elevation of board member Mike Wilkins to Acting CEO is a positive step. However, from all quarters the jungle drums are likely to beat louder by the day for Brenner to step down. The logical successor is Mike Wilkins with his plain-talking style. Only then will the venerable financial institution have a chance to restore the public's trust.