OML
OLOML
Old Mutual Plc - Director"s Retirement
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Director"s Retirement
Hasan Askari, Chief Executive of Old Mutual Asia Pacific, has notified Old
Mutual plc of his intention to retire from Old Mutual plc in 2007.
Mr Askari joined Old Mutual in 1999, initially as an advisor. His notable
achievements include the Company"s sale of Gerrard in 2003 and its
successful entry into India, through the Kotak Mahindra joint venture.
As Chief Executive of Old Mutual Asia Pacific, Mr Askari oversees the
development of the Company"s operations in China, India and Australia. In
addition, he has executive responsibility for Palladyne Asset Management in
the Netherlands, Old Mutual Asset Managers UK (OMAM) and, until its recent
transfer to Skandia UK, Selestia.
Mr Askari will retain his responsibilities as Chief Executive of Old Mutual
Asia Pacific until the appointment of a successor, and at least until 30
June 2007.
However, in anticipation of his departure, Mr Askari"s executive
responsibilities for OMAM will be transferred to Scott Powers, Chief
Executive of Old Mutual USA, and for Palladyne Asset Management to Julian
Roberts, Chief Executive of Skandia, with effect from 1 January 2007.
Commenting on Mr Askari"s departure, Jim Sutcliffe, Chief Executive, Old
Mutual plc, said: "I would like to thank Hasan personally for his
contribution and commitment to Old Mutual. His wise counsel and business
acumen has been invaluable over the years."
28 November 2006
ENQUIRIES:
Old Mutual plc
Katie Bell - Media Relations (UK) + 44 (0) 20 7002 7163
Nad Pillay - Media Relations (SA) + 27 (0) 21 504 8026
College Hill
Tony Friend + 44 (0) 20 7457 2020
Gareth David + 44 (0) 20 7457 2020
For further information about Old Mutual plc, visit www.oldmutual.com.
Date: 28/11/2006 09:30:02 AM Produced by the JSE SENS Department
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