REG - Old Mutual Ltd - Change in directorate and appointment of CEO desig

Old MutualAnnouncement

09/05/2025 08:00

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RNS Number : 0488I  Old Mutual Limited  09 May 2025

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

JSE Share Code: OMLI

LSE Share Code: OMU

MSE Share Code: OMU

NSX Share Code: OMM

ZSE Share Code: OMU

("Old Mutual" or "the Company")

 

Ref: 14/25

09 May 2025

 

CHANGE OF DIRECTORATE AND APPOINTMENT OF JURIE STRYDOM AS CHIEF EXECUTIVE
OFFICER DESIGNATE

In accordance with paragraph 3.59 of the JSE Limited ("JSE") Listings
Requirements, Old Mutual hereby notifies shareholders of the appointment of Mr
Jurie Strydom as its Chief Executive Officer ("CEO").

Further to the Stock Exchange News Service ("SENS") announcement of 17
February 2025, the Old Mutual board of directors ("Board") conducted a
rigorous and expedited process to appoint a CEO to lead the Company through
its next phase of growth and innovation. The Board's Corporate Governance and
Nominations Committee considered numerous excellent internal and external
candidates and was supported by a leading executive search firm.

To ensure a smooth, managed, and rapid transition of executive authority and
subject to regulatory approvals, Jurie will commence working as CEO designate,
alongside CEO Iain Williamson until the conclusion of the Annual General
Meeting ("AGM") on 30 May 2025, when he will become CEO with effect from 1
June 2025. Iain Williamson will continue as Board director until the
conclusion of the AGM; and then remain available to advise and support the CEO
and Board until his retirement on 31 August 2025.

A qualified actuary and graduate of the University of Cape Town, Jurie also
holds an MBA from the Massachusetts Institute of Technology, and qualified as
a Chartered Financial Analyst ("CFA") from the CFA Institute in the United
States. A highly experienced leader with decades of top management and board
experience in financial services and insurance, he has served as CEO of Sanlam
Life and Savings, Regent Insurance Group, Alexander Forbes Life, and was
Executive Director at Imperial Holdings. Jurie is a fintech investor and the
Chairman of FSPHub* as well as the Chairman of Common Good, a not-for-profit
company that creates transformational opportunities for underprivileged
communities in the areas of early childhood support, education and employment.

Chairman of the Old Mutual Board Trevor Manuel said: "The Board was looking
for: an experienced financial services CEO with strategic grip, an exceptional
operational track record, and who had led diverse teams, driven successful
transformation, and understood financial technology - and we found someone who
ticked these boxes. Jurie is a proven leader with outstanding experience of
building and leading diverse teams at large and complex insurance and
financial services companies. As a Board member, Jurie has demonstrated
exceptional strategic vision and has a clear focus on the critical business
levers necessary to implement the Company's strategic priorities, enhance our
market position, and achieve growing profitability. He is highly regarded in
the industry as a leader who can deliver operational efficiencies, disciplined
capital allocation, and continue implementing the financial technology and
product innovations that serve our clients and business partners. As CEO, his
well-established network of strategic relationships will continue to benefit
Old Mutual."

Thanking Iain for his lifetime of service to Old Mutual, Manuel said: "Iain
has been a true leader, consistently stepping up to provide calm and firm
direction whenever the Company faced challenges or while the country was in
crisis, as happened during the Covid-19 pandemic. Under his leadership, Old
Mutual has become a strong, resilient, and innovative company that embraces
new technology and is expanding into new areas of financial services and
banking. We thank and recognise Iain for his leadership over many years, and
for his continued support for Old Mutual."

Jurie Strydom said: "It is a great privilege to be appointed as the CEO of Old
Mutual at an exciting time in the Company's history. The Company has a strong
foundation, exceptional and diverse talent, a proud history, and a promising
future as a provider of innovative insurance, banking, and financial services
products that create value for our customers and contribute to our country's
shared prosperity. I look forward to working with my colleagues and engaging
with the diverse range of partners and stakeholders who work with us to drive
strategic implementation, innovation, operational resilience, and financial
performance".

 

* FSPHub currently does not conduct business with Old Mutual. Jurie intends to
step down from the board of FSPHub to focus on his new role at Old Mutual.

 

Sponsors

 Johannesburg Stock Exchange  Equity sponsor: Tamela Holdings (Pty) Ltd
                              Debt sponsor: Nedbank Corporate and Investment Banking,

                              a division of Nedbank Limited
 Malawi Stock Exchange        Stockbrokers Malawi Limited
 Namibia Stock Exchange       PSG Wealth Management (Namibia) Proprietary Limited
 Zimbabwe Stock Exchange      Imara Capital Zimbabwe plc

 

Enquiries

 Investor Relations
 Langa Manqele                             M: +27 82 295 9840

 Head of Investor Relations                E: investorrelations@oldmutual.com
 Communications
 Wendy Tlou                                M: +27 83 301 9663

 Interim Chief Communication Officer       E: oldmutualnews@oldmutual.com

 

Notes to Editors

 

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 179 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 (http://www.oldmutual.com/)
.

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