Financials services group Old Mutual has appointed its former chief operating officer Iain Williamson as the new CEO with immediate effect, the insurer said on Friday.
Willamson stepped in as interim CEO after Old Mutual parted ways with Peter Moyo in the middle of 2019 over an alleged conflict of interest.
An actuary, Williamson has been with Old Mutual for almost 30 years.
“Over the last year, acting as Interim CEO, he has worked to steer Old Mutual through some significant leadership and operational challenges,” chair Trevor Manuel said in a statement.
“His steady hand, strategic mind, and authentic leadership style has been both refreshing and truly welcomed,”
Williamson served as the company's emerging markets’ finance director in 2015 and acted as interim CEO in 2017.
In March, Moyo lost his bid to be reinstated as the insurer's CEO following a decision by the Supreme Court of Appeal to dismiss his appeal with costs.
At 1.57pm, Old Mutual's share price was down 1.25% to R12.59.
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