Old Mutual: No wind-up windfall
It’s just weeks before the lights are switched off at the group’s head office in London
Old Mutual Plc CEO Bruce Hemphill must feel that much of the work disbanding the business is done. Even before the AGM on April 30 he resigned from the boards of the two main operating companies, Old Mutual Ltd and Quilter — the former Old Mutual Wealth business. Finance director Ingrid Johnson has also resigned from the Quilter board, but remains on the Limited board so she can oversee Limited CFO Casper Troskie’s initiation programme. Troskie will fly solo from the beginning of July, but as back-up Johnson will stay on as a nonexecutive director until at least March. In any case, assuming managed separation will be approved by shareholders, London-based Old Mutual Plc has paid its last dividend. It is now a matter of weeks before Hemphill and Johnson switch off the lights at Millennium Bridge House, the London head office, and the rest of the head office team go on the job market. The buck will then stop with Peter Moyo, CEO of Old Mutual, and Paul Feeney, CEO of Quilter, who will...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.