6th Jan 2014 09:25
LONDON (Alliance News) - Old Mutual PLC has appointed two new independent non-executive directors in a bid to add international financial markets and asset management experience to its board, as well as to aid its expansion into sub-Saharan Africa.
The long-term savings, investment, banking and protection FTSE 100 constituent said it has appointed Zoe Cruz, who founded and ran her own investment management firm, Voras Capital Management, between 2009 and 2012, to provide additional insight into international financial markets and asset management.
Adiba Ighodaro, who has extensive experience of investing and operating businesses in sub-Saharan Africa, will help to evaluate new opportunities to expand in the region. Old Mutual has been expanding into the region, and recently received final regulatory approvals for its acquisition of a majority stake in Faulu Kenya DTM Ltd.
"With these appointments, we now have a Board which reflects substantial diversity in terms of skills, experience, geography and gender. The composition of the board has been structured so as to match and support the evolution and focus of the group's strategy," Patrick O'Sullivan, chairman, said in a statement.
Bongani Nqwababa, who was appointed independent non-executive director in 2007, has resigned with immediate effect.
Old Mutual shares were Monday quoted at 189.40 pence, down 0.20 pence, or 0.1%.
By Samuel Agini; [email protected]; @samuelagini
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