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AMP chairman says there is hope to rebuild

AMP has avoided a second strike by shareholders as they decided to stick with the current board and structure.

The directors and the board avoided the second strike at AGM.

AMP chairman David Murray tells Ross Greenwood the decision gives AMP a chance to rebuild its reputation.

“We have to go through a process of rebuilding that, which is not easy.

“We can’t just advertise our way out of it, we’ve got to go to the root causes of what’s happened in the company.”

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CGI Glass Lewis Daniel Smith advised some of these shareholders and tells Ross Greenwood AMP needs stability going forward.

“It’s been a shocker of a year for AMP.

“Today’s result was not necessarily an endorsement… but rather an acknowledgement that further instability was most likely going to be very destructive.”

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