OLD MUTUAL PLC - CANCELLATION OF S377952 Resignation of Ralph Mupita, Chief Executive of Old Mutual Emerging Markets

CANCELLATION OF S377952 Resignation of Ralph Mupita, Chief Executive of Old Mutual Emerging Markets

OLD MUUTUAL PLC
ISIN CODE: GB00B77J0862
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOMOL
             

       Ref 532/16
              
       31 October 2016

            
       RESIGNATION OF RALPH MUPITA, CHIEF EXECUTIVE OF OLD MUTUAL EMERGING
       MARKEETS
       
       Old Mutual plc (“Old Mutual”) announces that Ralph Mupita, CEO of Old Mutua Emerging Markets
       ("OMEM") has tendered his resignation, in order to purs interests outside of t financial services
       industry. The search process for his success will be launched immediately.

       Mr Mupita has a notice period of 3 months a will continue in post during that time. OMEM like the
       rest of the Old Mutual businesse is currently going through a business readiness programme as part
       of Old Mutual's managed separation process. This is not affected by today’s announcement and
       continue as planned.

       Bruce Hemphil, Old Mutual plc CEO and Chairman of OMEM, said:

       "On behalf of Old Mutual, I would like to thank Ralph for his dedicated leadership of the OMEM                                                                    
       business over the last five years. He has been an excellent leader and we wish him well in his future
       endeavoours.

        “I will work very closely with OMEM's strong and deep management team to ensure there is no
        disruption to the business or its customers while we seek Ralph's successor. Meanwhile, the
        managed separation process is unchanged and we will continue to maintain our engagement with key
        stakeholders throughout."

        Ralph Mupita said:

        "I have spent 16 great years at Old Mutual, and believe that I have made a contribution to the growth
        and development of the business over that time. But I feel the time is right for me to pursue other
        challenges outside of the industry.

        "Old Mutual plays an important role in the socio-economic transformation of South Africa and the 
        other key markets in which it operates, and it has been a privilege to have been part of such an
        august and iconic institution. I wish the business every success in the future'
  
        ENDS
        Enquiries
              
       
       External communications
               
       Patrick Bowes                       UK +4 20 7002 7440
       
       Investor relations
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       Sizwe Ndlovu                        SA +27 11 217 1163

       Media
       William Baldwin-Charles             +44 20 7002 7133
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       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Capital

              
       Notes to Editors 
              
       Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, the
       Americas Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and
       Johannesburg Stock Exchanges, among others, since 1999.
               
       Old Mutual has announced a strateg of managed separation, which will entail separating its four businesses into
       standalone entities. The four businesses are:

       Old Mutual Emerging Markets: An African finance services leader, providing long-term savings, protection,                                                        
       investment and lending to retail and corporate customers

       Nedbank Old Mutual owns a 54% stake in Nedbank, one of South Africa's top four banks, providing wholesale                        
       and retail banking, insurance management for individuals and businesses

       Old Mutual Walth: a leading wealth management business in the UK and international markets

       OM Asset Management: Old Mutual owns 65.8% in the New York Stock Exchange listed OM Asset
       Management which offers a diverse range of investment strategies and products for institutions, delivered
       worldwide through sev US-based boutiques.
              
       For the year ended 31 December 2015, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
       and had £304 billion of funds under management. For further information on Old Mutual plc and the underlying                                                                 
       businesses, please vis the corporat website at w www.oldmutua al.com




            

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