Former Finance Minister Trevor Manuel is retiring as the Chair of the Old Mutual Board, effective mid-year.
Manuel (70), who became an Old Mutual non-Executive Director in 2016 and served as Chairperson since 2018, has reached retirement age for directors. He will leave at the next annual general meeting.
Group Chief Executive Jurie Strydom announced this on Tuesday during the company’s financial results presentation for the year ended 31 December 2025.
Three-month transition period
“Roger Jardine has been announced as chairperson designate at Old Mutual. Roger joined our audience in September last year, and we had an opportunity as the management team to start interacting with him in that capacity,” said Strydom.
Old Mutual has put in place a three-month transition period, during which Manuel will hand over his responsibilities to current non-Executive Director Jardine.
Jardine held executive positions at several major SA companies
Jardine is a seasoned business leader with extensive experience across the corporate landscape. He previously served as FirstRand Chair. He stepped down in November 2023 to pursue a political career and established the Change Starts Now party, which failed to gain traction.
Jardine’s has served in executive positions at several major South African companies, including Kagiso Media, Aveng Group and Primedia. He has also served as a non-executive director across various industries, including steel, retail, manufacturing, IT services, mining and infrastructure development.
Strydom said Old Mutual considered itself fortunate to have benefited from strong leadership in both its outgoing and incoming chairpersons.
“I think it is just an extraordinary privilege and we are delighted. So, we are looking forward to the transition that will happen over the next coming months,” added Strydom.
‘Board is confident in Jardine’s leadership’
Manuel said Jardine carries great leadership experience in the business environment, and congratulated him on the new position.
“The Board is confident that his proven strategic, governance, and operational leadership will be invaluable to Old Mutual as it continues on its ambitious path of strategic and operational renewal and enhanced value creation. I look forward to working closely with Roger over the next few months to ensure a smooth and effective transition,” said Manuel.
