Executive appointments at OM

Business Writer

Insurance giant, Old Mutual has announced the appointment of its head of Old Mutual Life Assurance Company, Jonas Mushosho, to succeed Luke Ngwerume as group chief executive.

The listed concern also elevated two senior executives to the positions of deputy CEO. Zvomunoda Chizura is now deputy CEO: Life and Asset Management, while CABS managing director, Kevin Terry, moves into the position of Deputy CEO for Zimbabwe.

Both appointments are with effect from September 1, 2012.

Announcing the appointments, managing director for Old Mutual Africa Operations, Johannes Gawaxab, said he was confident the new team headed by Mushosho would steer the Zimbabwe operations to greater heights.

“I am pleased to inform you that following a rigorous and robust recruitment process, Jonas Mushosho has been appointed to the position of Zimbabwe CEO effective September 1, 2012.

Jonas’s strategic leadership ability, emotional maturity, knowledge of the business and industry and his ability to influence make him the most suitable candidate for the top job.

He is a safe pair of hands to ensure stability over the short-term,” said Gawaxab in a statement.

Mushosho, who is a Chartered Accountant (CA) and holds a B. Accounting, B. Compt and MBA, has been with the insurance and property giant for 22 years and previously held the positions of group finance director and general manager: retail business.

“I’m also pleased to announce that we have promoted Zvomunoda Chizura to the role of deputy CEO: Life and Asset Management, effective from September 1, 2012. Zvomunoda has demonstrated excellent leadership in his current role and I look forward to the contributions he will continue to make.”

Gawaxab said new deputy CEO for Zimbabwe Operations, Terry, would retain his current responsibilities at CABS and take on management responsibility for RMI. “CABS is becoming a key growth platform for the group in Zimbabwe and Kevin’s thorough knowledge of the business, especially from a banc-assurance perspective, stands him in good stead to help grow the group business.

Ngwerume, whose career with Old Mutual spans over 29 years, leaves at the end of September after opting for an early retirement to pursue other interests. Said Gawaxab: “Luke will continue his leadership with Old Mutual in a different capacity, when he joins as a strategic partner as part of the Indigenisation Scheme in Zimbabwe."

“Though Luke’s presence will be sorely missed, he has indeed groomed a solid layer of next generation leadership and I am confident he is passing the helm on to very capable hands under the leadership of Jonas.”


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