The AMP Ltd (ASX: AMP) share price is in focus today after the company announced Blair Vernon will become the new Group Chief Executive Officer, with Alexis George set to retire after leading major transformation and growth since 2021.
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What did AMP report?
- Blair Vernon appointed as incoming Group CEO, effective following Alexis George's retirement on 30 March 2026
- Alexis George stepping down after a successful five-year tenure overseeing transformation and growth
- Vernon's contract includes a base salary of $1.4 million, with annual and long-term incentive opportunities
- Ms George will stay on for a smooth handover before exiting
- New search for a Chief Financial Officer to begin, following Vernon's move from CFO to CEO
What else do investors need to know?
AMP has undergone significant change under Ms George, selling its AMP Capital and Advice business units and sharpening its focus on core growth opportunities. The board said the appointment of Blair Vernon follows a thorough internal and external recruitment process designed to support a seamless leadership transition.
The company has emphasised stability, with Mr Vernon having previously led transformation efforts and served in executive roles across both Australian and New Zealand operations. The board is confident that strong executive bench strength will support AMP's momentum in its next chapter.
What did AMP management say?
Blair Vernon commented:
It's a privilege to take on the leadership of AMP, a company with a proud legacy of serving the financial needs of Australians and New Zealanders. AMP is delivering against its strategy, and I look forward to continuing to work with my colleagues in executing our strategic ambitions and delivering positive outcomes to customers, shareholders, communities and colleagues. I want to thank Alexis for her incredible contribution to AMP and all its stakeholders, and for her support over so many years. I wish her well for the future and look forward to continuing to work with her during our transition.
What's next for AMP?
AMP says the executive handover will be managed carefully to maintain stability and delivery of ongoing strategy. The board and new CEO will continue to focus on growth and customer outcomes as the company enters its next phase.
A formal search for a new Chief Financial Officer is set to begin soon. The company says all incentives and contractual arrangements for Ms George's departure will proceed as previously disclosed.
AMP share price snapshot
Over the past 12 months, AMP shares have risen 13%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has increased 6% over the same period.
