AMP has moved to defuse a widely anticipated backlash from shareholders at its annual meeting in Melbourne on Thursday by announcing three more board departures.The embattled financial services giant yesterday revealed that two board incumbents, Vanessa Wallace and Holly Kramer, would not seek re-election at the AGM, while long-serving director Patty Akopiantz has decided to resign at the end of the year.Akopiantz's departure means that AMP's banking subsidiary will have to begin scouting for a new independent chair. Akopiantz has presided over AMP Bank since November 2015.Another AMP group director, Andrew Harmos, who is also up for election at the AGM, has decided to remain on the board despite the prospect of a significant protest vote.The latest batch of resignations came after prominent advisers to institutional investors - the Australian Council of Superannuation Investors (ACSI) and CGI Glass Lewis  -  signalled last week that their members should oppose the re-election of three directors at the AGM.While the resignations might go part of the way to appeasing disgruntled investors, ACSI yesterday indicated that AMP would need to explain why Wallace, Kramer and Akopiantz are going and not others."The Australian Council of Superannuation Investors welcomes AMP's belated acknowledgment that greater board accountability and renewal is necessary in response to revelations about poor governance practices at the banking Royal Commission," said ACSI chief executive Louise Davidson."We look forward to hearing more from the company about why these particular directors and not others have resigned."Davidson's comments, which were emailed to Banking Day in a statement, might prove to be ominous for other AMP directors as they indicate that some institutional shareholders might seek the removal of other directors from the floor of the meeting. AMP's acting executive chairman Mike Wilkins said the company's shareholders were demanding board accountability and needed to know that meaningful change was underway."I'd like to thank Patty, Vanessa and Holy for their service to AMP," he said."They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the board."They have listened to and acted on the feedback from our investors."The departures are a rebuff of incoming AMP chairman David Murray's plea last week for shareholders to resist punishing the board as it tries to chart a way forward for the company.Murray, who is not due to take control of the board until July, had been calling for shareholders to support the re-election of Wallace and Kramer.Harmos' decision to tough out the AGM could be the next blow as it is uncertain as to whether he will be able to garner enough votes to remain a director.Institutional advisers and the Australian Shareholders Association are recommending that shareholders vote against the company's remuneration report at the meeting.Davidson urged the company to consider appointing new women to replace the five departing directors, given that the wave of resignations in the past month had wiped out gender balance on the board.""We categorically reject the link which some have tried to make between governance failures at