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AMP gets new director as takeover bid heats up

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AMP has appointed a new director as it looks to accelerate its cultural turnaround in the face of a possible takeover by Ares.

Kathryn McKenzie has been appointed to AMP’s board as an independent non-executive director, effective 18 November 2020. She has more than 25 years in board and senior executive roles, and is currently a director of NBN Co and Stockland. 

“Given her wide range of board and business leadership roles, Kate will bring expertise and insight to the AMP board,” said chair Debra Hazelton.

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“She has a track record of leading change within the organisations she has worked, including cultural change, as well as managing diverse stakeholders across government, communities, investors and employees. Through her career as both an executive and non-executive director, she has earned a reputation for integrity, great judgement and building collaborative and effective teams.”

Ms McKenzie has also been the chief executive of New Zealand telecom Chorus and chief operating officer of Telstra in Australia. She is also a qualified solicitor and a member of Chief Executive Women (CEW) Australia. 

“We look forward to her valued contributions on the board as we transform AMP,” Ms Hazelton said.

The appointment brings AMP’s senior leadership closer to gender parity in the aftermath of the Alex Wade and Boe Pahari scandals, with Ms McKenzie joining Andrea Slattery and Ms Hazelton on the board. AMP is currently fielding a takeover bid from US private equity player Ares, which is progressing alongside its cultural turnaround.

 

AMP gets new director as takeover bid heats up
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