| Mon 12 Sep 2011, 12:00 | | OML - Old Mutual Plc - Old Mutual Plc - Response to the Davies report on women |
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OML - Old Mutual Plc - Old Mutual Plc - Response to the Davies report on women
on boards
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
(the "Company")
Ref 124/11
OLD MUTUAL PLC - RESPONSE TO THE DAVIES REPORT ON WOMEN ON BOARDS
In response to the Davies Report on Women on Boards, Old Mutual plc`s Chairman,
Patrick O`Sullivan, said today:
"Old Mutual aims to recruit and retain staff, at all levels of the organisation,
from as wide and diverse a background as possible. The composition of the Board
is a matter for the Nomination Committee, which I chair. Our guiding principle
is that successful candidates should be the best qualified for that role,
subject to local law, but we also seek to have an appropriate balance of skills,
experience and diversity represented on the parent company Board.
We currently have a significant element of diversity at that Board level, with
directors from South Africa, the UK, Ireland, Sweden and Spain, and we intend to
build on this base over the next three to four years. We now have one female
director out of our complement of 11 and we are aiming to increase this to at
least two by the end of 2013 and to at least three by the end of 2015, while
bearing in mind that all Board appointments require prior approval by the FSA."
Julian Roberts, Group Chief Executive, added:
"For our business to succeed, our culture has to be one of inclusion and
opportunity for all our staff. Only by addressing diversity throughout each
level will we achieve over time the appropriate gender balance at the Executive
levels. I believe that we can do more to encourage our very talented female
senior managers around the Group to progress to the highest positions in the
organisation and I am ensuring that gender diversity is actively considered when
developing and recruiting candidates for senior roles around the Group."
Enquiries
External Communications
Patrick Bowes +44 (0)20 7002 7440
Media
William Baldwin-Charles +44 (0)20 7002 7133
Notes to Editors
Old Mutual
Old Mutual plc is an international long-term savings, protection and investment
Group. Originating in South Africa in 1845, the Group provides life assurance,
asset management, banking and general insurance to more than 15 million
customers in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on
the London Stock Exchange and the Johannesburg Stock Exchange, among others.
In the year ended 31 December 2010, the Group reported adjusted operating profit
before tax of GBP1.5 billion (on an IFRS basis) and had GBP309 billion of funds
under management, from core operations.
The Board of the Company currently comprises the Chairman, Patrick O`Sullivan,
who is Irish, the Group Chief Executive, Julian Roberts, the Group Finance
Director, Philip Broadley, and eight non-executive Directors, of whom two are
South African (Reuel Khoza and Bongani Nqwababa), one is Swedish (Lars
Otterbeck) and one is Spanish (Eva Castillo).
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
The Davies Report
The Davies Report on Women on Boards can be accessed at
http://www.bis.gov.uk/assets/biscore/business-law/docs/w/11-745-women-on-
boards.pdf
12 September 2011-09-12
Sponsor:
Merrill Lynch South Africa (Pty) Limited
Date: 12/09/2011 12:00:05 Produced by the JSE SENS Department.
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