| Mon 26 Feb 2007, 10:00 | | NSX - OML - Old Mutual Plc - Changes to the Board |
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OML
OLOML
NSX - OML - Old Mutual Plc - Changes to the Board of Directors
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
NON-EXECUTIVE DIRECTORS
Old Mutual plc ("Old Mutual"), the international savings and wealth
management group, is pleased to announce that Mr Bongani Nqwababa has
agreed to join the Board as an independent non-executive director with
effect from 1 April 2007.
Mr Nqwababa, 40, is Finance Director of Eskom Holdings Limited, the South
African-based utility company that provides electricity to industrial,
commercial and residential sectors of South Africa, as well as other
redistributors. Among his responsibilities at Eskom, Mr Nqwababa looks over
treasury, procurement, corporate and financial planning as well as the
Eskom Pension and Provident Fund. Previously he enjoyed a range of senior
financial roles at Shell Southern Africa, including Treasurer and CFO.
Chairman of Old Mutual, Chris Collins, said:
"We are delighted to welcome Bongani to the Board and believe that his wide-
ranging experience in business, particularly in southern Africa, and strong
financial acumen will enable him to make a valuable contribution to Old
Mutual`s future."
Bongani Nqwababa commented:
"I am extremely pleased to be joining Old Mutual at such an exciting stage
of its international development. It`s a well regarded company in South
Africa, and I look forward to helping the team achieve its vision."
The Company confirms that there is no additional information relating to Mr
Nqwababa that requires to be disclosed under Listing Rule 9.6.13.
The Company regrets to announce that Mr Michael Marks, who has been a non-
executive director since 2004, has informed it that, owing to the pressure
of his other business commitments, he will not seek re-election when he
retires by rotation at the Annual General Meeting on 24 May 2007.
Chris Collins commented:
"We are sorry that Michael`s other commitments prevent him from remaining
with Old Mutual for a further period. We have greatly valued his
insightful contribution to the Board."
Ends
Enquiries
Investor Relations
Malcolm Bell UK +44 (0)20 7002 7166
Deward Serfontein SA + 27 (0) 21 509 8709
Media
James Crampton UK +44 (0)20 7002 7133
Nad Pillay SA +27 (0)82 553 7980
Notes to editors
Bongani Nqwababa
Bongani Nqwababa was born and educated in Harare, Zimbabwe. Following his
qualification as a Chartered Accountant in 1991, Mr Nqwababa relocated to
South Africa with Price Waterhouse, where he subsequently joined Columbus
Stainless Steel in 1995 as a project financier. After a later secondment to
Holland with Mees Pierson, Mr Nqwababa was awarded an MBA in Finance by the
Universities of Manchester and Wales, Bangor in 1991. Following his
appointment at Shell Southern Africa, he held directorships of Shell
operations in South Africa, Zimbabwe and Kenya, and was jointly awarded
South African Corporate Treasurer of the Year 2001.
He is married with two children.
Photos of Mr Nqwababa are available at
http://www.oldmutual.com/vpage.jsp?page_id=8155.
26 February 2007
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
balanced portfolio of businesses offering asset management, life assurance,
banking and general insurance services in over 40 countries, primarily
South Africa, Europe and the United States. Old Mutual is listed on the
London, Johannesburg and Stockholm stock exchanges, among others.
By conducting its business worldwide under its core values of integrity,
respect and accountability, Old Mutual aspires to push beyond boundaries to
drive value for all its stakeholders.
In the year ended 31 December 2005, the group reported an increase in
adjusted operating profit of 30% to GBP1.2 billion (IFRS basis). Old Mutual
had GBP222 billion of funds under management at 30 September 2006, and
47,000 employees.
The company will be announcing its preliminary results for the year ended
31 December 2006 on 26 February 2007.
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Date: 26/02/2007 10:00:00 Produced by the JSE SENS Department.
