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Shareholders advised to vote against three AMP directors at annual meeting

The Royal Commission has placed AMP firmly in the spotlight, with a senior executive at the company conceding they’d lost track of how many times they misled the corporate regulator ASIC.

AMP’s board will remain under the microscope, with three directors Holly Kramer, Vanessa Wallace and Andrew Harmos likely to be voted against at the annual general meeting next month.

CGI Glass Lewis gives recommendations to large shareholders of public companies and their General Manager Daniel Smith tells Ross Greenwood what they’re advising their clients to do.

“We’ve recommended to our clients to vote against all three directors who are standing for election or re-election at the AGM.”

David points to AMP’s lack of inaction being an “indictment” in itself.

“The company only decided to act forcefully when they released that statement late last week including the CEO leaving…. after the revelations by the Royal Commission.”

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