AMP braces for flak over its results
AMP will report its results tomorrow, and new CEO Andrew Mohl is unlikely to recieve the sort of approval Les Owen at Axa did yesterday. AMP will report a loss of as much as $900 million.
Finance journalists are also predicting that tomorrow’s report will contain details of former CEO Paul Batchelor’s severance package. Chairman Stan Wallis is also expected to announce this week that he will step down five months early to clear the way for incoming chairman Peter Willcox to oversee the company’s recovery program.