MMI: Picking up momentum?
The returning CEO has big plans for the company — but three years is a short time for a turnaround
It isn’t often that a CEO comes back more than 12 years after stepping down — but that’s exactly what’s happened at MMI (formerly Momentum). There’s no doubt many MMI executives were looking back nostalgically to the nine years from 1996 to 2005 that Momentum fell under Hillie Meyer. But he agreed to a contract as MMI CEO for just three years (he says he was not interested in committing himself for the rest of his career). And three years is a short time for a CEO turning a business around — it’s just enough time to identify a half-dozen key priorities and choose a successor. Several of Meyer’s former dream team have returned to the company, including Jeanette Marais, the new deputy CEO. She was the leading architect of the linked investment platform, which is Momentum’s core offering. Johann le Roux, who developed the Myriad risk product range, has also rejoined. The timing for Meyer’s return was good: he’d just completed folding his private equity business, Nodus Equity Partners, ...
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.