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MET
MET
MET/ MTD - Metropolitan Holdings Ltd - Announcement
METROPOLITAN HOLDINGS LTD
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
ISIN: ZAE000050456
JSE Share Code: MET
NSX Share Code: MTD
("Metropolitan")
ANNOUNCEMENT
The Metropolitan Holdings Board of Directors announced today that its group
chief executive, Peter Doyle has agreed to extend his contract until 31 March
2008. He has furthermore agreed to make himself available for appointment as a
non-executive director of Metropolitan Holdings thereafter.
During his tenure as chief executive Doyle has successfully led the growth of
Metropolitan into one of the leading life insurance-based financial services
groups in Africa. By the time of his departure in 2008, Doyle would have been
in his current role for over ten years, with nearly 30 years continuous service
at Metropolitan.
Metropolitan`s major businesses in South Africa include retail life insurance,
employee benefits, health care administration, asset management and card
operations. In addition it also operates businesses in Namibia, Lesotho,
Botswana, Ghana, Kenya and Nigeria.
Succession planning at all levels receives ongoing attention by the board.
While this announcement is being made now to inform stakeholders of current
developments, a board committee is busy identifying both internal and external
potential candidates for the position of group chief executive.
Further announcements in this regard will be made during the course of 2007.
JJ Njeke, acting chairman of Metropolitan and John Newbury, chairman of the
board sub-committee on human resources, representatives of the committee charged
specifically with appointing Doyle`s successor, commented as follows on the
group`s SENS announcement:
"We are delighted that Peter has acceded to our request that he stay on for an
extra year. Metropolitan has to date benefited enormously from his expertise and
wealth of experience, and as a group we look forward to continuing the
invaluable relationship we have with him in whatever capacity he may serve in
the future."
End
ISSUED SUE SNOW
FINANCIAL MEDIA SPECIALIST
METROPOLITAN HOLDINGS LIMITED
TEL 0219406119 OR 0833009745
DATE 12 FEBRUARY 2007
QUERIES PETER DOYLE
GROUP CHIEF EXECUTIVE
METROPOLITAN HOLDINGS LIMITED
TEL 0219405681 OR 0828802690
JJ NJEKE
ACTING CHAIRMAN
METROPOLITAN HOLDINGS LIMITED
TEL 0115370550 OR 0825551797
JOHN NEWBURY
CHAIRMAN: BOARD SUB-COMMITTEE ON HUMAN RESOURCES
METROPOLITAN HOLDINGS LIMITED
0118835247 OR 0829918091
Date: 12/02/2007 14:15:03 Produced by the JSE SENS Department.
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