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OLD MUTUAL LIMITED - Suspension of Chief Executive Officer of Old Mutual Limited

Release Date: 24/05/2019 07:45
Code(s): OMU     PDF:  
 
Wrap Text
Suspension of Chief Executive Officer of Old Mutual Limited

Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or “the Company”)

Ref 24/19
24 May 2019

SUSPENSION OF CHIEF EXECUTIVE OFFICER OF OLD MUTUAL LIMITED (“OML”)

Shareholders are advised that the Board has had various engagements with Mr Peter
Moyo, the OML and Old Mutual Life Assurance Company Limited (OMLACSA) Chief
Executive Officer. These engagements have caused the Board to conclude that there
has been a material breakdown in trust and confidence between him and the Board.

As a result, the Board has suspended the Chief Executive Officer with immediate
effect.

Iain Williamson, Chief Operating Officer will assume the role of acting Chief
Executive Officer.

Sandton


Sponsors:
JSE                           Merrill Lynch South Africa (Pty) Limited
Namibia                       PSG Wealth Management (Namibia) (Proprietary)
                              Limited
Zimbabwe                      Imara Capital Zimbabwe plc
Malawi                        Stockbrokers Malawi Limited


Enquiries:
Investor Relations
Sizwe Ndlovu                  T: +27 (0)11 217 1163
Head of Investor Relations    E: tndlovu6@oldmutual.com
Communications
Tabby Tsengiwe                T: +27 (11) 217 1953
Head of Communications        M: +27 (0)60 547 4947
                              E: ttsengiwe@oldmutual.com

Notes to Editors

About Old Mutual Limited
Old Mutual is a premium African financial services group that offers a broad
spectrum of financial solutions to retail and corporate customers across key
markets segments in 17 countries. Old Mutual's primary operations are in South
Africa and the rest of Africa, and it has a niche business in Asia. With over
170 years of heritage across sub-Saharan Africa, we are a crucial part of the
communities we serve and broader society on the continent.

For further information on Old Mutual, and its underlying businesses, please
visit the corporate website at www.oldmutual.com.

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