Old Mutual Chair Trevor Manuel to Retire After AGM

In Short

Old Mutual will have a new chair from 5 June 2026. Trevor Manuel is retiring as chairman and as a director after the company’s AGM.

What Happened

Old Mutual said its chairman, Trevor Manuel, will retire effective 5 June 2026. The change takes effect after the close of the company’s annual general meeting, or AGM (a yearly shareholder meeting where votes happen).

The company said Manuel turned 70 in January 2026. That is the mandatory retirement age for directors under its board charter, which is the rulebook that sets how the board is run.

Manuel has been both chairman and a director. His retirement means Old Mutual will need to complete a board leadership transition, including appointing a new chair to oversee the board and key committees.

Old Mutual has also had other recent governance updates. Market disclosures in April referenced board and committee changes, and a separate filing noted Old Mutual held 5.05% of Truworths International’s issued ordinary shares.

Why It Matters

For listed financial services groups, the chair role matters because it shapes board oversight of risk, capital allocation, and executive performance. That can influence how the group prioritises insurance, investments, and customer operations.

Leadership transitions can also affect market confidence, especially when the company is navigating slower growth, shareholder pressure, or regulatory scrutiny. Investors and operators will watch who replaces Manuel and whether the company signals any broader strategy shifts alongside the appointment.

In practical terms, the next chair will likely be measured on governance continuity, board independence, and how well Old Mutual executes on core insurance and wealth management performance targets.