Former Finance Minister Trevor Manuel will retire as the chairman of Old Mutual this year, with Roger Jardine as Chairman Designate.
Manuel turned 70 in January 2026, which is the retirement age for directors as set out by Old Mutual’s Board Charter.
He will thus retire as chairman and as a director of the company upon the close of the AGM.
Manuel joined the Old Mutual board in 2016 and was appointed chairperson of Old Mutual Emerging Markets in 2017.
He previously served as South Africa’s Minister of Trade and Industry from 1994 to 1996, Finance Minister from 1996 to 2009 and Minister in the Presidency for the National Planning Commission from 2009 to 2014.
The group has also announced Jardine as Chairman Designate of Old Mutual. Jardine will assume the chairmanship at the company’s Annual General Meeting to be held on 5 June 2026.
Jardine joined the Old Mutual Board in September 2025 and is a highly respected business leader and political activist.
Jardine will work with Manuel during a three-month handover period from March to June 2026 to ensure continuity of leadership, stakeholder engagement and an orderly transition.
Jardine was most recently the Chairman of FirstRand Limited for nearly 6 years and previously held chief executive roles at Kagiso Media, the Aveng Group, and Primedia.
He has also served as a non-executive director across a broad range of sectors, including steel, retail, manufacturing, IT services, mining services, and infrastructure development.
Old Mutual said that he brings deep expertise in financial services, governance, commercial operations, stakeholder engagement, public policy, and the regulatory environment.
He holds an MSc in Radiological Physics from Wayne State University and a Bachelor of Science (BSc) in
Physics from Haverford College, both in the United States.
Jardine almost took part in the 2024 National Elections, but failed to contest, as his party, Change Starts Now, did not secure the required signatures despite receiving millions in donations.
“On behalf of the Board, I want to congratulate Roger on his appointment as Chairman Designate. Roger has outstanding leadership experience in financial services and the broader business environment,” said Manuel.
“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.”
