Three AMP directors resign after shareholder pressure

Two of the three AMP directors standing for re-election at this week's annual general meeting have decided to resign, with the company's longest-serving director to follow.

AMP Bank signage in Sydney, Saturday, May 5, 2018. Source: AAP

Three AMP directors have resigned ahead of the company's annual meeting this week.

The resignations include two AMP directors who were up for re-election - Holly Kramer and Vanessa Wallace.

The Australian Shareholders' Association had said it would vote against the re-election of Vanessa Wallace and Holly Kramer following damaging revelations about AMP at the banking royal commission.

Andrew Harmos will still stand for re-election despite the ASA's intention to oppose him, while Patty Akopiantz will end her seven plus-year stint on the board by the end of 2018.

Interim executive chairman Mike Wilkins said in a statement:

“I’d like to thank Patty, Vanessa and Holly for their service to AMP. They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the board," Mr Wilkins said.

“They have listened to and acted on the feedback from our investors.”

- With AAP