Appointment of non-executive director

RNS Number : 0179Z

Old Mutual PLC

09 March 2012

 



Ref 18/12

9 March 2012

Old Mutual plc

 

 

OLD MUTUAL APPOINTS MS NKU NYEMBEZI-HEITA AS A NON-EXECUTIVE DIRECTOR

Old Mutual plc ("Old Mutual") is pleased to announce that Ms Nonkululeko ("Nku") Nyembezi-Heita has agreed to join its Board as an independent non-executive director with effect from today's date.

Ms Nyembezi-Heita has been an independent non-executive director of Old Mutual's wholly-owned life subsidiary, Old Mutual Life Assurance Company (South Africa) Limited ("OMLACSA"), since 2010, but will be stepping down from that position as part of her arrangements for joining the Board of Old Mutual.

Commenting on this appointment, Patrick O'Sullivan, Chairman of Old Mutual, said:

"We are delighted that Nku has agreed to join the Board of Old Mutual, thereby increasing our South African complement.  Her experience as a director of OMLACSA, as well as her CEO experience at a major South African enterprise, will be most valuable."

Ms Nyembezi-Heita said:

"I am excited to be joining the Board of Old Mutual and look forward to playing an influential role there."

Old Mutual confirms that there are no matters relating to Ms Nyembezi-Heita that would require disclosure under Listing Rules 9.6.13 (1) to (6).   She does not currently have any beneficial interests in shares in Old Mutual or in its separately listed subsidiary, Nedbank Group Limited.

Enquiries

External Communications / Investor Relations
Patrick Bowes		[phone]
Kelly de Kock		[phone]
Media
William Baldwin-Charles		[phone]
Investor Relations

Notes to Editors

A photograph of Ms Nyembezi-Heita is available on the Company's website at the following address: http://www.oldmutual.com/about/boardOfDirectors.jsp.

Biographical details of Ms Nyembezi-Heita

Nonkululeko 'Nku' Nyembezi-Heita is the Chief Executive Officer of ArcelorMittal South Africa, the largest steel producer on the African continent and a subsidiary of the ArcelorMittal Group, which in turn is the largest steel producer in the world.  She was appointed to this position in March 2008.  Prior to this, Ms Nyembezi-Heita served as the Chief Officer of Mergers & Acquisitions for the Vodacom Group and before that, she was Chief Executive Officer of Alliance Capital (for seven years), then local subsidiary of the New York-based global investment management company.

Ms Nyembezi-Heita has a B.Sc. Hons degree in electrical engineering from the University of Manchester Institute of Science & Technology and a Masters degree in the same discipline from California Institute of Technology. She also has an MBA from the Open University (UK).

Ms Nyembezi-Heita is also a non-executive director of the JSE Limited.

Old Mutual

Old Mutual is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia.  Old Mutual is listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £267 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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