AMP Ltd board member and AMP Capital Chair to depart

AMP Limited (AMP) has announced the resignation of board member, Vanessa Wallace, who will step down ahead of the annual general meeting on 10 May 2018.

Wallace, who first joined the AMP board in March 2016, and is a member of the people and remuneration, audit, and nomination and governance committees, has also resigned as chair of AMP Capital, a role she was appointed to in August 2016. She will leave AMP Capital once a replacement is named.

Previously, she held senior management positions at Booz & Company and was executive chair of Booz & Company (Japan) Inc.

AMP has also announced that Holly Kramer will depart the board this month and that Patty Akopiantz will resign at the end of the year.

AMP interim executive chair, Mike Wilkins, said: "Our shareholders are demanding board accountability and need to know that meaningful change is underway. I'd like to thank Patty, Vanessa and Holly for their service to AMP. They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the Board. They have listened to and acted on the feedback from our investors."