AMP Chair Murray Quits, Pahari Demoted After Investor Revolt
- Debra Hazelton named chairman in latest boardroom shakeup
- Pahari’s promotion after harassment claim triggered backlash
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AMP Ltd. Chairman David Murray resigned and the head of the firm’s investment management arm was demoted as a sexual harassment scandal sparked the second boardroom shakeup in just over two years at the trouble-plagued company.
Boe Pahari, whose recent promotion to chief executive officer of AMP’s A$190 billion ($137 billion) investment management arm sparked the revolt, will return to his previous level with a focus on the infrastructure equity business. Debra Hazelton will replace Murray.