AMP CEO Craig Meller has resigned with immediate effect following the commission scandal, Craig Meller resignation was accompanied by an unreserved apology or serious misconduct from AMP to its customers.
According to Australia’s banking royal commission, AMP was found guilty of charging customers for services that were not provided for over a decade.
In the company statement, Mike Wilkins who is currently a non-executive director has been appointed as acting chief executive following AMP CEO Craig Meller resignation.
Talking about his resignation and the scandal AMP CEO Craig Meller said;
“I am personally devastated by the issues which have been raised publicly this week, particularly by the impact they have had on our customers, employees, planners and shareholders,”
he also added;
“This is not the AMP I know and these are not the actions our customers should expect from the company.
AMP in a statement to ASX said they would immediately establish a “comprehensive review” and also would monitor the company’s regulatory reporting. The statement reads;
“The work will be overseen by a retired judge or equivalent independent expert,”
Finance Minister Mathias Cormann talking about the immediate resignation of AMP CEO Craig Meller said;
“Some of the news to emerge from the royal commission was very concerning. This is obviously one of the consequences out of that process,”
CEO Craig Meller was the helm of the company since 2014 and was about to leave AMP this year having failed to lift the performance of the company. Craig Meller was associated with AMP for over a decade and also tired to ran AMP life insurance business.
