Wrap Text
Appointment of Independent Non-Executive Directors
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
LSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
JSE Alpha Code: OMLI
("Old Mutual" or "the Company")
Ref 14_26
03 June 2026
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS
In compliance with paragraph 6.71 of the JSE Limited ("JSE") Listings Requirements and paragraph 6.42
of the JSE Debt and Specialist Securities Listings Requirements, shareholders are advised of the following
changes to the board of Old Mutual Limited ("Board").
The Board is pleased to announce the appointment of Dr Claudia Manning and Dr Phumla Mnganga as
independent non-executive directors of the Company, with effect from01 June 2026.
Dr Manning will serve as a member of the Responsible Business Committee (and its sub-committee, the
Group Customer Committee) as well as the Remuneration Committee while Dr Mnganga will serve as a
member of the Remuneration Committee and the Technology & Platforms Committee.
Old Mutual Board Chairman, Trevor Manuel, said:
"We are delighted to welcome Dr Manning and Dr Mnganga to the Board. Their combined knowledge
and experience will further strengthen and renew the Board as Old Mutual enters its next phase of
disciplined growth and value creation.
"Dr Manning brings more than 25 years' experience across investment, finance and economic
development, as well as significant board and investment committee expertise. Her experience in capital
allocation, fund management, development finance and sustainability will further strengthen the Board's
oversight of long-term value creation and responsible business practices.
"Dr Mnganga brings extensive listed-company board and executive leadership experience across
governance, organisational strategy, transformation and human capital management. Her background
in investment holding and portfolio oversight, together with her track record in supporting business
growth and sustainable transformation, will add valuable perspective to the Board.
"Together, their appointments enhance the Board's collective depth and capability across governance,
investment and people-related priorities. They also reflect our commitment to a thoughtful and orderly
process of Board renewal, ensuring Old Mutual maintains an appropriate balance of skills, experience,
diversity and independence in support of sustainable value creation for all stakeholders."
Dr Claudia Manning
Dr Manning is a senior investment and development professional with expertise spanning finance,
investment and economic development.
Her governance experience includes previous roles as a non-executive director at JSE-listed Adcock
Ingram and other leading financial institutions including, the Development Bank of Southern Africa
("DBSA") and the Public Investment Corporation ("PIC"), where she also served on investment
committees. She currently serves as a non-executive director of Rothschild & Co South Africa and Chair of
Mondi Zimele.
She is currently an Investment Principal at the SA SME Fund, focusing on fund investments, due diligence
and portfolio management, including ESG and sustainability. She has also held senior executive roles,
including Managing Director of DAI Southern Africa.
Dr Manning holds a Doctor of Philosophy and a Master of Philosophy from the University of Sussex, as well
as a Bachelor of Arts (Honours) from the University of Natal.
Dr Phumla Mnganga
Dr Mnganga is an experienced business leader and non-executive director with extensive listed-company
board experience. She currently serves on the boards of Altron, Adcorp and Exxaro, and has previously
chaired Crookes Brothers South Africa and Novus Holdings, while also serving for many years on the board
of The Spar Group.
Her executive career includes senior roles at Gold Circle Group, Tongaat-Hulett and Deloitte Consulting,
with responsibilities spanning business transformation, organisational development, human capital
management and stakeholder engagement. She is the founder of Lehumo Women's Investment
Holdings, a women-owned investment company focused on infrastructure-related investments.
Dr Mnganga holds a PhD in Social Entrepreneurship from Wits Business School and a Master's in Business
Leadership from the University of South Africa, together with qualifications in arts, education and
psychology from the University of KwaZulu-Natal.
Board Renewal
Shareholders are reminded that, following the Company's incorporation in 2018 with a newly constituted
Board, the majority of whose directors were appointed at that time, and in line with the Board's rotation
policy as set out in the memorandum of incorporation of Old Mutual, the Board continues to implement
a structured and phased approach to succession. This includes a staggered rotation of directors to give
effect to tenure limits, support independence and effective shareholder oversight, and balance Board
refreshment with continuity, institutional knowledge and sound governance.
Fit and proper statement
The Board has performed fit and proper assessments, in terms of sections 5.6 and 6.73 of the JSE Listings
Requirements, of Dr Manning and Dr Mnganga, before they were appointed as directors and is satisfied
with the outcome of the assessments. The assessments by the Board included an investigation into their
backgrounds, including independent verifications of qualifications.
There are no positive statements to be made regarding the integrity information, as outlined in section
6.74 of the JSE Listings Requirements, on Dr Manning and Dr Mnganga.
This announcement is also available on the Old Mutual website at www.oldmutual.com.
Sandton
Sponsors
JSE equity sponsor: Tamela Holdings (Proprietary) Limited
JSE debt sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
NSX: PSG Wealth Management (Namibia) (Proprietary) Limited
ZSE: Imara Capital Zimbabwe plc
MSE: Stockbrokers Malawi Limited
Enquiries
Investor Relations
Langa Manqele
M: +27 (0)82 295 9840
E: investorrelations@oldmutual.com
Communications
Wendy Tlou
M: +27 (0)82 906 5008
E: oldmutualnews@oldmutual.com
About Old Mutual
Old Mutual is a premium African financial services group that offers a broad spectrum of financial
solutions to retail and corporate customers across key market segments in 12 countries. Old Mutual's
primary operations are in Africa and it has a niche business in China. With over 181 years of heritage across
sub-Saharan Africa, Old Mutual is a crucial part of the communities it serves as well as broader society on
the continent.
For further information on Old Mutual and its underlying businesses, please visit the corporate website at
www.oldmutual.com
Date: 03-06-2026 09:00:00
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