New AMP chair Debra Hazelton and former AMP Capital CEO Boe Pahari (Images: Supplied)

The board coup at AMP over the weekend was the right outcome and the share market agrees, with the company's shares recovering in a falling market this morning.

The move reaffirms AMP's status as Australia’s number one board coup company in the past 25 years with old-fashioned chairman David Murray, 71, out with immediate effect after a controversial two-year-and-three-month stint as the nominated chair.

He will be succeeded by Debra Hazelton, a career banker with more than 30 years of experience with the likes of Commonwealth Bank (CBA) and Japanese bank Mizuho. She only joined the AMP Capital board in June 2018 and the main AMP board in June 2019.