AMP says De Ferrari is still CEO, but review under way
AMP declares leadership review but says CEO Francesco De Ferrari has not resigned.
Under-fire AMP has flagged a leadership and strategy review is underway, as it again declared chief executive Francesco De Ferrari had not resigned from his post.
AMP’s shares were placed in another trading pause on Friday, as the company gave an additional update to that it had provided on Thursday.
“AMP confirms there has been no change to the CEO’s position and that Mr De Ferrari has not resigned,” the wealth and asset management group said.
“The board and Mr De Ferrari are working together and constructively discussing the future strategy and leadership of the group, post the completion of AMP’s portfolio review. These discussions are ongoing and AMP will provide updates as required.”
The update signals that leadership changes may transpire if AMP secures a deal to sell a majority stake in its private markets unit to US firm Ares Management. Despite Thursday’s AMP update, saying Mr De Ferrari had not resigned, questions remain as to how long his tenure will last.
A media report said Mr De Ferrari was resigning on Thursday and that AMP had lined up former Sunsuper boss Scott Hartley - who started in the role of head of AMP Australia in January - to take over.
Ann: Additional Statement on CEO, page-14
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