| Mon 29 Sep 2008, 15:51 | | OML - Old Mutual plc - New Chief Executive Officer in US Life Business |
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OML
OLOML
OML - Old Mutual plc - New Chief Executive Officer in US Life Business
Old Mutual plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
New Chief Executive Officer in US Life Business
Old Mutual Plc ("Old Mutual" or the "Group") today announces that Chris
Chapman has been appointed Chief Executive Officer of the Group`s US Life
business with immediate effect.
This follows the resignation of former Chief Executive Officer, Bruce Parker,
who will remain available to Old Mutual on an advisory basis.
Mr Chapman has a wealth of experience in the life insurance industry and, in
particular, in managing turnaround situations. This included seven years at
North Central Life Insurance Company in the US as President, Chief Operating
Officer and latterly Chief Executive Officer, where he successfully led a re-
engineering of the business and sold it to American General in 2000.
Subsequent to that he has held a number of senior posts including Chief
Executive Officer of Carefree Capital, a US-based private equity firm
specialising in turnaround opportunities, management consult to SwissRe,
AdminRe and Windsor Life Assurance Company, Director of Strategic Change at
Resolution Life and Managing Director of CSC Financial Services Group.
Commenting on this appointment, Julian Roberts, Group Chief Executive said:
"I am delighted that an individual with Chris`s calibre, skills and experience
has agreed to take on this most important role for the Group. He adds
significant further experience to the team already dedicated to addressing the
US Life issues and we have every confidence in his ability to lead the
business through this difficult time."
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Enquiries
Investor Relations
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
Nad Pillay SA +44 (0)20 7002 7237
Finsbury
Brian Cattell UK +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.
29 September 2008
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 29/09/2008 15:51:10 Produced by the JSE SENS Department.
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