Boe Pahari, former CEO of AMP Capital, has resigned after only two months in the role following the re-emergence of a 2017 employee complaint made against him by female colleague.
The complaint has been at the centre of sustained reporting in Australia, where parent company AMP is based, which has led to the complainant waiving her right to anonymity and AMP announcing they would release the report of their investigation into the complaint, conducted in 2017.
In a resignation statement, Pahari said: "I deeply regret the events in 2017 and I apologise to Julia Szlakowski.
"I also acknowledge the significant impact the matter has had on our clients, our people, and AMP's shareholders. I have decided to stand down as AMP Capital CEO in the interests of all parties, and to minimise disruption to the business.
"I am committed to doing everything I can to see this business and our people reach their full potential. The best way I can make amends is to do the job I have been given to the best of my ability."
Pahari will step down to resume work "at his previous level, with a focus on AMP Capital's infrastructure equity business".
In a statement on its website, the board of AMP reiterated the "comments and behaviour" of Pahari were unacceptable and apologised again for the "distress caused at the time" to the complainant.
Both David Murray, former chairman of AMP, and John Fraser, former chairman of AMP Capital Holdings and former Australian Treasury Secretary, also resigned on the same day (24 August).
Murray said: "The board has made it clear that it has always treated the complaint against Mr Pahari seriously. My view remains that it was dealt with appropriately in 2017 and Mr Pahari was penalised accordingly.
"However, it is clear to me that, although there is considerable support for our strategy, some shareholders did not consider Mr Pahari's promotion to AMP Capital CEO to be appropriate.
"Although the board's decision on the appointment was unanimous, my decision to leave reflects my role and accountability as chairman of the board and the need to protect continuity of management, the strategy and, to the extent possible, the board."
Murray is replaced by Debra Hazelton, who first joined the board in 2019, and she added: "On behalf of the board, I would like to acknowledge David Murray's leadership of the AMP board over the past two years as the business has tackled critical and highly complex challenges in AMP's transformation programme.
"We would like to thank both David and John [Fraser] for their professionalism, dedication and commitment to AMP."
Fraser had also been in the spotlight for comments he made on a podcast where he stated he used to be accompanied by "two women who were more mature" to social functions who would "just stay within about a metre" because "things happen, you know, you can be accused of stuff".