AMP’s top executives on ‘retention payments’
AMP Limited has revealed it is paying some of its most senior executives retention payments to ensure they remain aboard the big financial group.
The retention payments have been revealed by AMP chair, Debra Hazelton ahead of the company’s annual general meeting and come despite AMP having earlier notified shareholders that the chief executive and key management personnel would not be receiving short-term incentives.
It said this was to align remuneration with shareholder outcomes.
However, Hazelton said that “in recognition of the potential risk of losing key executives during the portfolio review process, the board has approved some limited retention payments to be paid later in 2021”.
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