Catherine Brenner has announced she will be ceasing her long-standing board position with Coca-Cola Amatil just weeks after stepping down from the AMP chairman’s role in the wake of the royal commission scandal.
Speaking at Coca Cola Amatil’s 2018 annual general meeting, chairperson Ilana Atlas outlined that Ms Brenner would depart the board of directors after 10 years of service at the beverage company.
“She has advised the board that she does not intend to seek re-election at the AGM next year at the end of her current term,” said Ms Atlas.
Ms Brenner will continue to stay on the board for the next 12 months, which would “allow for an orderly transition” given five “relatively new” directors as well as the search for her replacement.
Ms Atlas said the board had “considered Catherine’s position” after she stepped down as AMP’s chairman in late April, but also noted that the board felt positively about her contribution over the last decade.
“The board’s view is that Catherine remaining on the Coca-Cola Amatil Board is in the interests of shareholders.
“Catherine is our longest serving director, with a deep understanding of the company’s business and people. She has been committed, hardworking and diligent throughout her term on the board,” Ms Atlas said.
“Her corporate finance and mergers and acquisitions experience has been valuable to the company in its many corporate actions over the past ten years.”
Ms Brenner had also held the role of chairman for Coca Cola Amatil’s risk and sustainability committee, where she had “driven the continual improvement of our risk framework and its implementation,” Ms Atlas said.
“Over the next twelve months we will continue to analyse the skills and experience on the board and what we require in the future, to maintain the right mix following Catherine’s retirement.”