Parallels in the historical trajectory of AMP and IOOF are striking. Both were founded in the 1840s. Both demutualised, and now both find themselves centre stage at the banking royal commission.
New AMP chair David Murray has triggered an important debate about ASX corporate governance principles.
Joel Carrett/AAP
The corporate sector owes David Murray a debt of gratitude for starting a debate about ASX governance rules that lead boards to delegate matters that are properly their responsibility.
New AMP chair David Murray’s prescription for corporate governance doesn’t acknowledge the structural drivers of systemic misconduct.
Joel Carrett/AAP
Evidence to the Banking Royal Commission points to the systemic failings of corporate governance built on the idea of shareholder primacy. It’s time to rethink the unitary board system for a start.
Former AMP CEO Craig Meller (left) and chairwoman Catherine Brenner.
AAP