Former AMP chair Catherine Brenner will step down from the Coca-Cola Amatil (CCA) board next year, the Aussie beverage giant announced at its annual general meeting today.
Brenner resigned as AMP chair last month following company revelations that emerged during the banking royal commission.
CCA chairman Ilana Atlas said in her AGM address to shareholders that after a ten year stint as a CCA director, Brenner had advised the board she would not seek re-election at next year's AGM.
However, with five of CCA directors relatively new to the company, her continued role on the board over the next 12 months would “allow for an orderly transition as we look to appoint a new director at or before next year’s AGM”, Atlas said.
“It is important for shareholders to know that the board has considered Catherine’s position on this board following her decision to step down from her position as chairman of AMP. The board’s view is that Catherine remaining on the Coca-Cola Amatil board is in the interests of share holders.
“Catherine is our longest serving director, with a deep understanding of the company’s business and people. She has been committed, hard-working and diligent throughout her term on the board,” Atlas said.
“Her corporate finance and mergers and acquisitions experience has been valuable to the company in its many corporate actions over the past 10 years. As chairman of the Risk & Sustainability Committee she has driven the continual improvement of our risk framework and its implementation.
“Over the next twelve months we will continue to analyse the skills and experience on the board and what we require in the future, to maintain the right mix following Catherine’s retirement.”
At Coca-Cola Amatil, women hold four of its nine board positions and 31 per cent of senior executive roles, according to Atlas.
“We are also investing in the capability of our women in all businesses, and have goals for gender diversity,” she said.