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An association with Allco Finance Group has prompted its former head, David Clarke, not to stand for re-election as a non-executive director of the AMP board next month.
Clarke, also former chief executive officer of both MLC and BT Financial Group, said in a statement today that it appears his association with Allco Finance Group may have caused negative comment as the AMP annual general meeting approaches.
“This could cause uncertainty among shareholders and, therefore, I have decided not to stand for re-election as a director,” Clarke said.
AMP chairman Peter Mason said he was disappointed at Clarke’s decision not to stand for re-election.
Clarke’s decision follows the announcement by Meredith Hellicar last week that she too would not stand for re-election as a non-executive director.
