By Lehlohonolo Lehana.
Old Mutual Financial Services Group has named former FirstRand chair Roger Jardine as its chair designate in the place of outgoing chair Trevor Manuel.
Manuel is expected to leave Old Mutual after annual general meeting (AGM) on 5 June 2026.
The insurance and financial services group confirmed the move on Tuesday, following the release of its latest annual results, saying the appointment is subject to Jardine’s confirmation as a director at the AGM.
Old Mutual has increased its annual dividend by 8% after reporting an improved operating performance in Old Mutual Life and Savings, and Old Mutual Insure.
Results from operations increased by 13% to R9.8bn in the year to end-December while adjusted headline earnings increased by 24% to R8.3bn, benefiting from elevated shareholder investment returns in South Africa and Malawi.
Manuel, who has chaired the insurer since 2018, will retire from both the board and the chairmanship at the close of the meeting after reaching the company’s mandatory retirement age of 70.
A three-month handover period, running from March to June, has been put in place to support continuity and ensure a smooth transition.
Jardine joined the Old Mutual board in September 2025 and brings extensive executive and board-level experience, according to Old Mutual. He most recently served as chair of FirstRand for nearly six years, and previously held chief executive roles at Kagiso Media, Aveng Group and Primedia.
His career spans multiple sectors, including financial services, infrastructure, manufacturing and media, and includes a number of non-executive directorships across southern Africa.