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AMP (ASX:AMP) - Outgoing CEO, Francesco De Ferrari
Outgoing CEO, Francesco De Ferrari
Source: ABC
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  • AMP (AMP) has dismissed claims its Chief Executive Officer Francesco De Ferrari will be resigning amid a flurry of media speculation
  • Today’s announcement adds flickered context to the initial one-sentence denial of the reports made from the company yesterday but hints the future strategy and leadership of the group, is under review
  • The speculation follows a report from the Australian Financial Review on Thursday, which claimed the chief executive would relinquish his title
  • The embattled financial services company is currently in joint venture negotiations with a U.S investment firm, which are yet to be formally cemented
  • AMP shares are up 2.25 per cent following the clarification, trading at $1.37

AMP (AMP) has dismissed claims its Chief Executive Officer, Francesco De Ferrari, will resign amid a flurry of media speculation.

The embattled financial services company made a market announcement this morning reaffirming there had been “no change to the CEO’s position” and Francesco De Ferrari had indeed not resigned.

The retaliation comes in the wake of a report from the Australian Financial Review on Thursday, which claimed the chief executive would relinquish his title.

AMP’s shares were subsequently pressured into a trading halt that afternoon and a one-sentence statement was issued shortly after from the company, denying the claims.

Today’s statement added further context for the controversy-clad lister.

“The board and Francesco De Ferrari are working together and constructively discussing the future strategy and leadership of the group, post the completion of AMP’s portfolio review,” it read.

“These discussions are ongoing and AMP will provide updates as required.”

The company is currently in the midst of ongoing joint venture negotiations with U.S. investment firm Ares, which are yet to be formally cemented.

AMP shares are up 2.25 per cent following the clarification, trading at $1.37 at 12:08 pm AEDT.

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