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ACSI statement on AMP Capital CEO and AMP Board changes

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The Australian Council of Superannuation Investors (ACSI) has welcomed the announcement of Boe Pahari’s removal from the role of CEO of AMP Capital, and the changes to the AMP board.

“Today’s announcements are an acknowledgement by the company that significant change needs to occur.  This is an important step in addressing concerns raised by investors’ and resetting company culture.” ACSI CEO Louise Davidson said.

“The company must now get on with job of rebuilding public confidence, and in particular, the trust of their staff.”

“Investors will be continuing to engage with AMP to understand how these decisions were made and how the company intends to strengthen company culture.”

“Today’s announcements signal change in the organisation. Clearly AMP’s initial response to community, staff, and shareholder concerns around the appointment of Pahari and the treatment of sexual harassment was inadequate.” She said.

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