OLD Mutual Emerging Markets CEO Ralph Mupita announced on Wednesday that Old Mutual Africa boss Johannes Gawaxab, has decided to go on early retirement in December 2014 after more than 16 years with the Group.
Under Johannes’s leadership, the profit contribution of Old Mutual Africa (OMA) increased from R128 million in 2006 to more than R1 billion in 2013 and assets under management rose from R22 billion to R64 billion over the same period.
He was notably instrumental in the successful acquisition and integration of life and general insurance businesses in Nigeria, Ghana and Swaziland, and the development of solutions relevant to these markets.
Johannes began his journey with Old Mutual in 1998 as Old Mutual Asset Managers Namibia chief executive, a greenfield operation he started and built into the number one asset management company in the country. In 2003, he was promoted to MD of the Old Mutual Group in Namibia, an integrated financial services business that is rated today among the top five companies in the country.
In March 2006, he was appointed to lead Old Mutual’s African businesses outside South Africa – Zimbabwe, Namibia, Kenya and Malawi. In this role, he helped shape our strategy and footprint and deepen the organisation’s customer focus and leadership bench.
Johannes will continue his association with Old Mutual and serve, in a non-executive capacity, on several boards in Old Mutual Africa business starting April 2015.
The process of appointing a successor will start soon.