AMP shareholders vote against executive pay packets over concerns bonuses too high

Shareholders at Sydney AGM say remuneration excessive for a financial institution that has dramatically shrunk in recent years

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AMP shareholders have voted against executive pay packets at the troubled financial institution over concerns bonuses are too high for a company delivering lacklustre performance and a weak share price.

AMP has lost about three-quarters of its market value in the five years since the banking royal commission disclosed numerous poor practices at the company, including its willingness to charge insurance premiums to dead customers.

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