Australia, insurance, car, home, live, holidays

Catherine Brenner arriving at Coca-Cola Amatil's shareholder meeting. She will leave the board next year.Credit:Janie Barrett

Ms Brenner quit as AMP chairman after revelations at the banking royal commission that the company stole from customers by charging them for services they did not receive,and then misled the corporate regulator about its misbehaviour.

Ms Atlas said in remarks prepared for CCA's annual general meeting on Wednesday that the board had considered Ms Brenner's position at CCA in light of the AMP scandal and decided that it was best for shareholders that she stay on for another 12 months.

"With five of our directors relatively new to the company,Catherine’s continued role on the board over the next 12 months will allow for an orderly transition as we look to appoint a new director at or before next year’s AGM,"Ms Atlas said.

"Catherine is our longest serving director,with a deep understanding of the company’s business and people.

"She has been committed,hardworking and diligent throughout her term on the board."

Ms Brenner would remain chair of the board's risk committee,Ms Atlas said,who added that all members of the board were responsible for risk.

Once she leaves CCA,Ms Brenner's last remaining directorship will be on the board of building materials group Boral.

The Australian Shareholders Association had called for Ms Brenner to quit the CCA ahead of Wednesday's AGM,arguing the AMP scandal made her unfit for the job.

CCA is the locally-listed bottler for the Coca-Cola Company's products,as well as bottling food products under the SPC and Amatil brands.

The Coca-Cola Company,the global beverages giant,owns 31 per cent of CCA's shares,providing a potential buffer to any shareholder push to have Ms Brenner kicked off the board.

Despite this block,shareholders registered a 17 per cent protest vote against CCA's remuneration report,which investors had criticised for being short on information about how executive pay was determined.

Ms Atlas said the board would provide more details in next year's report where appropriate.

License this article