News: CCL UPDATE 1-Australia's Coca-Cola Amatil says former AMP chair to leave board

(Adds chairman quote, details on AMP scandal)

May 16 (Reuters) - Australia's Coca-Cola Amatil (CCL) on Wednesday said Catherine Brenner, former chairman of scandal-ridden wealth management company AMP Ltd (AMP) , does not plan to seek re-election to the board at the end of her term next year.

The drinks company said it had considered Brenner's position on the board following her decision to leave AMP last month, and was of the view that she should stay in the interests of shareholders, but Brenner would leave anyway.

Brenner quit the board of AMP, Australia's top wealth manager, after a powerful independent inquiry into the finance sector found serious board-level misconduct.

The inquiry revealed that AMP had misappropriated funds of thousands of clients over a decade by charging them without providing a service, and that it had repeatedly lied to the corporate regulator about the practice.

"With five of our directors relatively new to the company, Catherine’s continued role on the board over the next 12 months will allow for an orderly transition as we look to appoint a new director at or before next year’s AGM," Coca-Cola Amatil Chairman Ilana Atlas said in an address at the company's annual general meeting.