26th Feb 2007 08:00
Old Mutual PLC26 February 2007 Old Mutual plc Ref: 10/07 26 February 2007 NON-EXECUTIVE DIRECTORS Old Mutual plc ("Old Mutual"), the international savings and wealth managementgroup, is pleased to announce that Mr Bongani Nqwababa has agreed to join theBoard as an independent non-executive director with effect from 1 April 2007. Mr Nqwababa, 40, is Finance Director of Eskom Holdings Limited, the SouthAfrican-based utility company that provides electricity to industrial,commercial and residential sectors of South Africa, as well as otherredistributors. Among his responsibilities at Eskom, Mr Nqwababa looks overtreasury, procurement, corporate and financial planning as well as the EskomPension and Provident Fund. Previously he enjoyed a range of senior financialroles 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 hiswide-ranging experience in business, particularly in southern Africa, and strongfinancial acumen will enable him to make a valuable contribution to Old Mutual'sfuture." Bongani Nqwababa commented: "I am extremely pleased to be joining Old Mutual at such an exciting stage ofits international development. It's a well regarded company in South Africa, andI look forward to helping the team achieve its vision." The Company confirms that there is no additional information relating to MrNqwababa that requires to be disclosed under Listing Rule 9.6.13. The Company regrets to announce that Mr Michael Marks, who has been anon-executive director since 2004, has informed it that, owing to the pressureof his other business commitments, he will not seek re-election when he retiresby 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 withOld Mutual for a further period. We have greatly valued his insightfulcontribution to the Board." Ends Enquiries Investor RelationsMalcolm Bell UK +44 (0)20 7002 7166Deward Serfontein SA + 27 (0)21 509 8709 MediaJames Crampton UK +44 (0)20 7002 7133Nad Pillay SA +27 (0)82 553 7980 Notes to editors Bongani Nqwababa Bongani Nqwababa was born and educated in Harare, Zimbabwe. Following hisqualification as a Chartered Accountant in 1991, Mr Nqwababa relocated to SouthAfrica with Price Waterhouse, where he subsequently joined Columbus StainlessSteel in 1995 as a project financier. After a later secondment to Holland withMees Pierson, Mr Nqwababa was awarded an MBA in Finance by the Universities ofManchester and Wales, Bangor in 1991. Following his appointment at ShellSouthern Africa, he held directorships of Shell operations in South Africa,Zimbabwe and Kenya, and was jointly awarded South African Corporate Treasurer ofthe Year 2001. He is married with two children. Photos of Mr Nqwababa are available at http://www.oldmutual.com/vpage.jsp?page_id=8155. Old Mutual Old Mutual plc is an international savings and wealth management company basedin the UK. Originating in South Africa in 1845, the group has a balancedportfolio of businesses offering asset management, life assurance, banking andgeneral insurance services in over 40 countries, primarily South Africa, Europeand the United States. Old Mutual is listed on the London, Johannesburg andStockholm stock exchanges, among others. By conducting its business worldwide under its core values of integrity, respectand accountability, Old Mutual aspires to push beyond boundaries to drive valuefor all its stakeholders. In the year ended 31 December 2005, the group reported an increase in adjustedoperating profit of 30% to £1.2 billion (IFRS basis). Old Mutual had £222billion of funds under management at 30 September 2006, and 47,000 employees. The company will be announcing its preliminary results for the year ended 31December 2006 on 26 February 2007. For further information on Old Mutual plc, please visit the corporate website atwww.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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