BL Premium reports that Old Mutual CEO Iain Williamson has opted to take early retirement, and will vacate the role he has held since 2020 at the end of August, so ending a 32-year association with the group.
At 55, Williamson’s early retirement comes as a surprise. Old Mutual, SA’s second largest insurer, did not reveal the reasons behind the CEO’s retirement, merely saying it hoped to name a successor soon. “The board has accepted Mr Williamson’s request to take early retirement, after 32 years with the group, the last five as CEO, and extends its heartfelt thanks for his remarkable commitment and service to the company, its clients and the industry … The board has initiated a process, considering internal and external candidates, to identity a new CEO to lead the company through its next phase of growth and innovation. The board intends to conclude this process expeditiously,” the company indicated in a statement. Williamson’s appointment to the role of CEO in 2020 brought about leadership stability after the acrimonious exit of his predecessor Peter Moyo in the middle of 2019 after he was shown the door by the Trevor Manuel-led board over an alleged conflict of interest. The imminent departure of Williamson leaves the board with a lot of work to do to fill two key roles, with the group’s CFO having reached retirement age. The company in October said Casper Troskie had agreed to remain as CFO until April 2027.
- Read the full original of the report in the above regard by Kabelo Khumalo at BusinessLive (subscriber access only)
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