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AMP announces resignation of CEO

AMP has announced that chief executive Craig Meller intends to step down from the role at the end of the calendar year, with the institution commencing a global search to find a replacement.

The company announced the resignation in a statement to the ASX on Monday, explaining that the decision to announce it so early in the year reflects a commitment to transparency.

“As part of our regular discussions on succession, Craig indicated he would like to retire at the end of this year," said AMP chairman Catherine Brenner.

"As it’s important to have continuity of leadership to deliver on our longer-term growth ambitions, Craig and the board jointly agreed the time is right to begin searching for his successor.

“Craig will continue to drive the company and deliver on our strategy through 2018 and has indicated his flexibility to work with the board to ensure a smooth and orderly leadership transition.”

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The British national started his career with AMP in the UK in 2001 before relocating to the Sydney headquarters to take up a number of senior roles, including managing director of financial services.

Mr Meller succeeded Craig Dunn in the CEO role in January 2014.

Speaking of his decision, Mr Meller said: "It has been a privilege to lead a company with the history and heritage of AMP. AS we move into the enxt phase of growth, it is the right time to begin the process of moving to new leadership.

"I remain very focused on executing our strategy and driving the performance of the business until my successor has been appointed and will support the Board to ensure a smooth handover."

[Related: Major bank appoints new GM for Asia Pacific]

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