Old Mutual group finance director to leave in 2014 - CNBC Africa

Old Mutual group finance director to leave in 2014

Southern Africa

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Philip Broadley is the group finance director at Old Mutual PLC. PHOTO: Old Mutual

“I joined the group just over five years ago to work with Julian Roberts and my colleagues with a clear task to transform both the structure of the group and the way it did business. I am very proud of what we have all achieved over this period,” he said.

“The group today is a much simpler and more resilient business, focused on meeting our customers’ financial goals, and with a clear strategy for growth. I judge the time is right for me to move on to the next stage of my career and I wish my colleagues every success as they continue to grow Old Mutual.”

Broadley will continue as group finance director until a successor has been appointed and there has been a proper transition of responsibilities.

Julian Roberts, [DATA OML:Old Mutual]’s group chief executive said, "When Philip joined the group in 2008, our financial position was seriously challenged. The group is in a very different position today with improved levels of cashflow, reduced gearing, strong capital and a reduction in overall group risks which is testament to the significant contribution Philip has made.”

“His desire to continue until a successor is appointed will enable a smooth transition as we continue to prudently manage our growth strategy," Roberts stated.

The transition is expected to take place after the company’s Annual General Meeting in May 2014.