Business
AMP half year results: AMP takeover spurned by Ares Management – The Australian Financial Review
AMP shares have tumbled after Ares Management dumped its takeover late on Wednesday, while AMP boss Francesco De Ferrari asks for ‘clemency’ over poor annual results….
Mr De Ferrari stressed AMP was just one year into a three-year transformation program, and said he would address employees on Wednesday with the message that the frustrating part of the accounts was the hard work completed during the year and does not show up in the end-of-year P&L.
This is absolutely normal, especially in an annuity business like ours, Mr De Ferrari told reporters. The good work will show up in coming years.
Im not sure thats a plea for clemency, but perhaps just for context, he…
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