What Debra Hazelton didnât tell AMP shareholders
AMP shareholders have been left in the dark as chairman Debra Hazelton refuses to disclose what prompted the wealth management giantâs latest strategic swerve
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If AMP chairman Debra Hazelton was hoping long-suffering AMP shareholders would leave Fridayâs annual general meeting with no clearer understanding of the companyâs proposal to demerge its real estate and infrastructure private markets business, then she achieved her ambition admirably.
In the first place, Hazelton refused to elucidate the reasons why, just over a week ago, the AMP board peremptorily decided to break off discussions with Los Angeles-based Ares Management Corporation regarding the potential sale of the real estate and infrastructure businesses.