| Mon 4 Jan 2010, 9:00 | | OML - Old Mutual Plc - Patrick O`Sullivan succeeds Chris Collins as Chairman |
|
OML
OLOML
OML - Old Mutual Plc - Patrick O`Sullivan succeeds Chris Collins as Chairman
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Patrick O`Sullivan succeeds Chris Collins as Chairman
Old Mutual plc ("Old Mutual") is pleased to confirm the appointment to the Board
of Directors of its new Chairman, Patrick O`Sullivan, with effect from 1 January
2010. Chris Collins, the former Chairman, retired from the Board on 31 December
2009.
Julian Roberts, Group Chief Executive of Old Mutual, commented:
"We are delighted that Patrick has joined us as our new Chairman following the
retirement of Chris Collins. We thank Chris for his guidance and management of
the Board throughout his tenure and particularly during the extraordinarily
tough market conditions of the last 18 months.
"Patrick brings with him considerable experience of international financial
services groups and restructuring and I look forward to his counsel and
contribution to the future development of the Group in building long-term
shareholder value."
In accordance with Listing Rule 9.6.13, the following directorships have been
held by Patrick O`Sullivan in other publicly quoted companies during the past
five years:
- Man Group plc (non-executive Director - current)
- Bank Of Ireland (non-executive Director - current)
- Collins Stewart plc (non-executive Director - ceased December 2009)
- Zurich Financial Services Group (executive Director - ceased April 2009)
There are no other matters for disclosure under Listing Rule 9.6.13 relating to
Mr O`Sullivan.
For further information on Old Mutual plc, please visit our corporate website at
www.oldmutual.com
Enquiries
Investor Relations
Patrick Bowes UK +44 (0)20 7002
7440
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew UK / SA +44 (0)20 7002
Gregorowski 7133
+44 (0)7748 183
834
Don Hunter UK +44 (0)20 7251
(Finsbury) 3801
4 January 2010
Sponsor
Merrill Lynch South Africa (Pty) Limited
Notes to Editors
Old Mutual
Old Mutual plc is a leading international long-term savings Group. Originating
in South Africa in 1845, the Group provides life assurance, asset management,
banking and general insurance in Europe, the Americas, Africa and Asia. Old
Mutual plc is listed on the London Stock Exchange and the JSE, among others.
In the year ended 31 December 2008, the Group reported adjusted operating profit
of GBP1.0 billion (on an IFRS basis) and had GBP265 billion of funds under
management at the year end. The Group has approximately 57,000 employees.
Patrick O`Sullivan - Career history
Patrick retired in April 2009 after eleven years at Zurich Financial Services
(Zurich), where he was Vice Chairman from March 2007, with specific
responsibility for the Zurich`s International businesses, including South
Africa. Since then he has been COO Retail, Asia & Latin America of COFRA Group
in Switzerland.
Patrick first joined Zurich as CEO, General Insurance and Banking, of its UKISA
Business Division in 1998. In December 2002, he assumed the position of Group
Finance Director and became a member of the Group Executive Committee.
Having qualified as a chartered accountant, Patrick initially worked for Bank of
America and then moved to Goldman Sachs as financial controller for Europe. In
1990 he moved to Financial Guaranty Insurance Company (FGIC), a wholly owned
subsidiary of GE Capital, where he was appointed to the board in 1993. The
following year he joined Barclays/BZW as head of International Banking &
Structured Finance, and in September 1996 he became BZW`s chief operating
officer. In 1997, he joined Eagle Star Insurance Company as Chief Executive.
Date: 04/01/2010 09:00:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
