By Ian Walker
LONDON--Old Mutual PLC (OML.LN) said Wednesday it has appointed
Ingrid Johnson as group finance director from July 1, replacing
Philip Broadley who will remain an executive director until Aug. 31
to ensure an effective transition.
Ingrid Johnson is currently the group managing executive of
retail and business banking for Nedbank Group Ltd. (NED.JO) and has
been responsible for the strategic repositioning of these
businesses since August 2009, the 170 year old savings and
investment firm said.
Old Mutual, which originated in South Africa in 1845 and has
been listed on the London and Johannesburg Stock Exchanges since
1999, also said it has appointed Paul Hanratty as chief operating
officer and executive director from July 1.
Mr. Broadley will remain "With these appointments, the Board is
well placed to address the further development of Group strategy,",
Chief Executive Julian Roberts said.
Ms. Johnson will receive an annual base pay of 600,000 pounds
($1.01 million) and Mr. Hanratty's annual base pay will be
GBP630,000. Both will be entitled to short-term incentives up to a
maximum of 150% of base pay, applied on a pro-rata basis for the
current year from July 1 and granted awards under the company's
long term incentive plan.
Shares in London at 0755 GMT up 2 pence, or 0.77%, at 210 pence
in a lower FTSE 100 Index--down 0.24%.
Write to Ian Walker at ian.walker@wsj.com
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