The Board of AMP Limited has appointed Craig Meller Chief Executive Officer and Managing Director, effective 1 January 2014.
Mr Meller replaces Craig Dunn who will retire from AMP following six years as Chief Executive Officer and Managing Director and 13 years with the company.
Mr Meller joined AMP in 2001 and has since held a number of senior roles including Managing Director, AMP Financial Services, which he has held since October 2007.
AMP Limited Chairman, Peter Mason said Mr Meller’s appointment, following an extensive internal and external review, is testament to the quality and rigour of AMP’s approach to succession planning.
“Craig Meller has demonstrated a great capacity to lead and grow the business since he joined AMP more than a decade ago. He has successfully led AMP’s largest business unit during a period of significant regulatory and industry change, while at the same time new technologies have been driving a major shift in customer behaviour,” Mr Mason said.
“He is the right person to lead AMP as we progress the next phase of our strategy, which capitalises on our stronger integrated business.”
Mr Mason said outgoing CEO Mr Dunn will be leaving AMP in a strong position for his successor.
“Craig Dunn leaves AMP in great shape after successfully steering the company through the global financial crisis, unprecedented regulatory change and one of Australia’s largest and most successful financial services integrations,” Mr Mason said.
“On behalf of the Board I thank him for his exceptional leadership and ability to capitalise on the opportunities during this challenging time.”
Mr Meller said he was looking forward to the challenges and opportunities of his new role.
“I’m very excited about the opportunity to lead AMP, particularly in an environment where our customers’ needs are rapidly changing. As we have announced today, we’re focusing on driving higher revenues through deeper customer relationships and improved business efficiencies,”
Mr Meller said.
Mr Meller and Mr Dunn will work together closely to ensure a smooth transition to the new leadership.
Craig Dunn said: “It’s been a privilege to lead AMP during a time of extraordinary change and opportunity, and now is the right time for a leadership change. Craig Meller has significant financial services experience, both in Australia and overseas, and I know he will be an outstanding CEO.”