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Manuel replaces Hemphill as Old Mutual EM chair

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Cape Town – Former Finance Minister Trevor Manuel has replaced Old Mutual CEO Bruce Hemphill as chairperson of Old Mutual Emerging Markets (OMEM) as part of the wider group’s separation process.

Old Mutual announced the move on Thursday, saying it is an important step in the business readiness process for OMEM under Old Mutual’s managed separation strategy. Hemphill will remain on the OMEM board, it said in a statement.

Manuel, who has been on the board of OMEM since 2015, will oversee the establishment of the appropriate board and governance structures for an independently-listed OMEM and in line with the King IV Report on Corporate Governance which will come into effect on 1 April 2017.

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