AMP chairman Simon McKeon has left the firm to be replaced on an interim basis by John Palmer, who will postpone his retirement until a replacement is found.
In a statement to the ASX, AMP announced that Mr McKeon will retire at the conclusion of the AGM in May 2016 due to a "change in circumstances".
At the same time, board member John Palmer has agreed to act as interim chairman until a permanent appointment is made.
“As a result, he will postpone his retirement from the board until a new Chair is in place,” the AMP statement said.
Commenting on his retirement, Mr McKeon said: “I am disappointed to leave the board following a change in my circumstances. It has been an honour to be the Chairman of AMP Limited, I have every confidence in the strategy and management team and believe that AMP is well positioned to grow over the long-term.”
The AMP board thanked Mr McKeon for his contribution to AMP over the past three years and paid tribute to his focus on the opportunities for future growth for the company.