AMP have stated in their annual report that the company has made the executive decision to refrain from paying former chief executive Craig Meller and former advice and banking executive Rob Caprioli their unvested incentives, which totals to A$10.8 million ($11.16m). The decision to do so reflects AMP’s initiative to improve upon the issues raised with ASIC during the financial advice hearing with the Royal Commission. When asked about the bonuses of New Zealand executives, an AMP spokesperson stated that they believe the bonus outcomes were reflective of the performance challenges they faced here in New Zealand. AMP have stated that further changes are set to be implemented as the year progresses, while ensuring employees are not unjustly penalized. Click here to read more.