| Wed 10 Sep 2008, 8:15 | | OML - Old Mutual Plc - New Chief Executive Appointed |
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OML
OLOML
OML - Old Mutual Plc - New Chief Executive Appointed
Old Mutual plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
New Chief Executive Appointed
Old Mutual plc today announces that Jim Sutcliffe, Chief Executive, has
decided to step down with immediate effect. The Board has accepted his
resignation.
Julian Roberts has been appointed as the new Chief Executive. Julian has been
Chief Executive of Skandia since February 2006 and before that Group Finance
Director of Old Mutual plc.
Chris Collins, Chairman of Old Mutual plc, said: "On behalf of the Board, I
would like to express our thanks for the great contribution Jim has made to
the Group over the past eight years. We wish him well for the future. We are
fortunate in having an executive of the calibre of Julian, who is familiar
with both the industry and the Company. This broad experience means he is
very well qualified for the job."
Julian Roberts said: "Old Mutual is a great company with fantastic potential
but also a number of challenges, which I look forward to tackling."
Enquiries
Investor Relations
Mary Jackets UK +44 (0)20 7002 7149
Aleida White UK +44 (0)20 7002 7287
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew Gregorowski UK +44 (0)20 7002 7133
Mike Smith UK (Finsbury) +44 (0)20 7251 3801
Brian Cattell UK (Finsbury) +44 (0)20 7251 3801
Notes to Editors
Old Mutual
Old Mutual plc is an international savings and wealth management company
based in the UK. Originating in South Africa in 1845, the group has a
portfolio of businesses offering asset management, life assurance, banking
and general insurance services in over 40 countries in Europe, the Americas,
Africa and Asia-Pacific. Old Mutual plc is listed on the London Stock
Exchange and the JSE, among others.
In the year ended 31 December 2007, the group reported adjusted operating
profit of GBP1.62 billion (on an IFRS basis) and had GBP279 billion of funds
under management at the year end. The Company has approximately 53,000
employees.
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Julian Roberts BA, FCA, MCT
Julian Roberts has been Chief Executive Officer of Skandia since February
2006. He joined the Old Mutual Group in August 2000 as Group Finance
Director.
Julian qualified as an accountant at PricewaterhouseCoopers in 1983, and
moved into the insurance industry, working for C E Heath, in 1987.
In 1993 he became Director and Chief Financial Officer of Aon UK Holdings
Limited. Whilst at Aon he led the due diligence process and successful
purchase and integration of four major insurance broking businesses.
Julian left Aon in 1998 to join Sun Life & Provincial Holdings plc as its
Group Finance Director prior to its acquisition of Guardian Royal Exchange
plc. He was involved in the financing of this transaction and its
integration.
Whilst studying Accountancy and Business Law at the University of Stirling in
Scotland Julian met his wife Marion, and together they have three sons and a
daughter. He is passionate about sports and enjoys playing golf and
supporting his children at their rugby, football and hockey fixtures.
Forward-looking statements
This announcement or presentation may contain certain forward-looking
statements with respect to certain of Old Mutual plc`s plans and its current
goals and expectations relating to its future financial condition,
performance and results. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events and
circumstances that are beyond Old Mutual plc`s control, including, among
other things, UK domestic and global economic and business conditions, market-
related risks such as fluctuations in interest rates and exchange rates,
policies and actions of regulatory authorities, the impact of competition,
inflation, deflation, the timing and impact of other uncertainties or of
future acquisitions or combinations within relevant industries, as well as
the impact of tax and other legislation and other regulations in territories
where Old Mutual plc or its affiliates operate.
As a result, Old Mutual plc`s actual future financial condition, performance
and results may differ materially from the plans, goals and expectations set
forth in Old Mutual plc`s forward-looking statements. Old Mutual plc
undertakes no obligation to update any forward-looking statements contained
in this announcement or presentation or any other forward-looking statements
that it may make.
10 September 2008
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
Date: 10/09/2008 08:15:02 Produced by the JSE SENS Department.
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