AMP Limited non-executive director, Peter Varghese, will not seek re-election at the end of his term and the firm has appointed Rahoul Chowdry as a non-executive director.
AMP said Varghese announced his intention to retire from the board at the end of his term which would conclude at the 2020 annual general meeting on 8 May, 2020. Varghese joined the boards of AMP Bank and AMP Capital Holdings in October 2016 and was a member of the group audit, risk, remuneration and nomination committees.
AMP chair, David Murray, said Varghese wished to spend more time on his advisory work, including a follow up to the India Economic Strategy report that he submitted to the Prime Minister in 2018.
“The board thanks him for his contribution and wishes him well for the future,” he said.
On Chowdry, Murray said: “Rahoul’s leadership and financial, audit and risk management expertise will further strengthen the knowledge and experience on the AMP board
“He will bring valuable insight to the board as the industry navigates increasing regulatory, governance, and risk requirements.”
Chowdry had over 35 years in leadership and senior executive roles in professional services, and is partner and national leader of Minter Ellison Consulting’s financial services risk and regulatory practice in Australia. He is also a member of the Reserve Bank of Australia’s Audit Committee.