AMP chair Simon McKeon to retire

AMP has announced that chairman Simon McKeon will retire from the financial services giant's board in May due a "change in circumstances".

Director John Palmer will replace him on an interim basis until a permanent replacement is named.

Mr McKeon said in a statement that he was "disappointed to leave the board following a change in my circumstances".

"It has been an honour to be the chairman of AMP, I have every confidence in the strategy and management team and believe that AMP is well positioned to grow over the long-term," he said.

More to come