'Best interests' "While on the AMP board, I have at all times acted with integrity and professionalism," Ms Kramer said. "However, to enable the organisation to move forward I have decided my resignation is in the best interests of all those concerned and will allow the new chairman to begin the process of board renewal. "As a director, I share accountability for the current situation and while I would have liked to continue to push for change, I realise that would require significant shareholder support for my position." Holly Kramer (pictured) and Vanessa Wallace, who were up for re-election, will stand down ahead of the meeting. Credit:Fiona Morris Ms Kramer said she was confident that under AMP's incoming chairman, David Murray, the right leadership would be put in place to rebuild trust and restore confidence.

The resignations come after a horror few weeks for the wealth manager at the royal commission, where it was revealed it had misled the corporate regulator and changed an independent report into the company's fees-for-no-service scandal. AMP was recommended for criminal charges following the shocking revelations, which sparked the departures of chief executive Craig Meller, chairman Catherine Brenner and group counsel Brian Salter. The company has strenuously denied that its misconduct rose to the level of criminal offending. AMP director Mike Wilkins stepped up as interim executive chairman before AMP announced veteran banker Mr Murray would start as its new chairman in July. Mr Wilkins will remain acting chief executive while the group searches for a new CEO. AMP named director Mike Wilkins as interim executive chairman last week. Credit:Fairfax Media Following Tuesday's director resignations, Mr Wilkins said: "Our shareholders are demanding board accountability and need to know that meaningful change is underway."

Mr Wilkins had been lobbying major shareholder groups to vote in favour of retaining the three directors up for re-election. “I’d like to thank Patty, Vanessa and Holly for their service to AMP,” Mr Wilkins said. “They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the board. They have listened to, and acted on, the feedback from our investors.” Mr Harmos is relatively new to the AMP board, joining in July last year, while Ms Akopiantz has been one of AMP’s longest-serving directors, joining the board in 2011. Ms Kramer, also a director of Woolworths and Australia Post, joined the AMP board in October 2015. Woolworths chairman Gordon Cairns said Holly Kramer's decision at AMP was both principled and dignified. Credit:Louie Douvis 'Principled and dignified'

Woolworths chairman Gordon Cairns threw his weight behind Ms Kramer, saying she was hardworking and diligent and a strong performer on the Woolworths board. "Holly has a great relationship with Woolworths management and her fellow board members. Her decision at AMP was both principled and dignified," he said. "She brings extensive retail expertise to our discussions and is a vigorous chair of our People Performance committee and a strong advocate on behalf of our shareholders.” Government quiet on AusPost role Meanwhile, the Turnbull government was refusing to comment on whether Ms Kramer still has its support for the $100,000 a year government-backed role deputy chair of Australian Post. Communications Minister Mitch Fifield and Finance Minister Mathias Cormann appointed the former Best & Less CEO to the permanent deputy chair position in June last year. They have listened to, and acted on, the feedback from our investors. Acting executive chairman Mike Wilkins

A spokesman for Senator Fifield said the government was aware of the statement given by AMP to the ASX. "The minister was advised by his portfolio chairs that their boards are working well," he said. "The government continues to monitor the work of the royal commission.” Labor called for the government to state whether Ms Kramer continued to have its support. “The AMP governance failures exposed by the banking royal commission are deeply troubling," Labor communications spokeswoman Michelle Rowland said. "In light of today’s resignations, the Turnbull government needs to clarify whether it retains confidence in its appointment of Ms Kramer as deputy chair of the Australia Post board.” Wesfarmers and Seek director Ms Wallace joined the AMP board in March 2016. Wesfarmers and Seek have been contacted for comment. Former AMP CEO Craig Meller (left) with director Vanessa Wallace, who resigned on Tuesday. Credit:AAP AMP was expected to face a vote of up to 30 per cent against the re-election of Ms Kramer, Ms Wallace and Mr Harmos. However, a tally of the votes cast ahead of the meeting is believed to have put the vote against Ms Kramer and Ms Wallace at 60 per cent - more than the 50 per cent required to remove them. Mr Harmos is also expected to receive a large vote against his re-election, though not over the 50 per cent mark.

AMP is also expected to cop a big protest vote against its remuneration report. Several major institutional investors and proxy advisers, including the Australian Council of Superannuation Investors (ACSI), Australian Super, and CGI Glass Lewis, were planning to vote against the re-election of the directors. Loading The Australian Shareholders Association had recommended retail shareholders vote against both the re-elections and the company's remuneration report. Sources said an unknown swing factor for AMP was how its large retail shareholder base might vote. A key concern for investors is that the royal commission has heard that the AMP directors knew in December 2017 that the company had misled the regulator. However, the company did not tell the market. Instead, shareholders found out about the scandal when an AMP executive was questioned as a witness at the banking royal commission.

Fairfax Media understands the vast majority of proxy votes were sent through to the company last Thursday, giving AMP little chance of influencing investors to change their votes. ACSI pushes for more detail ACSI chief executive Louise Davidson was pushing for further details on the board resignations. “The Australian Council of Superannuation Investors welcomes AMP’s belated acknowledgment that greater board accountability and renewal is necessary in response to revelations about poor governance practices at the banking royal commission," Ms Davidson said. "We look forward to hearing more from the company about why these particular directors and not others have resigned." Gender diversity