AMP Ltd board member to depart by year's end

AMP Limited (AMP) has announced the resignation of board member, Patty Akopiantz, who will step down at the end of 2018.

Akopiantz is currently AMP's longest-serving board member and, according to the firm, has offered to step down in recognition of the need for a measured process of board renewal.

Akopiantz, who was previously the general manager of marketing at David Jones, first joined the AMP board in 2011. She is a member of AMP's people and remuneration, nomination and governance and risk committees.

AMP has also announced that Vanessa Wallace and Holly Kramer will depart the board ahead of the annual general meeting on 10 May 2018.

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."