In an email statement issued by Old Mutual PLC, the parent company of OMEM, the company said “Mr Mupita has a notice period of 3 months and will continue in post during that time. OMEM, like the rest of the Old Mutual businesses, is currently going through a business readiness programme as part of Old Mutual’s managed separation process. This is not affected by today’s announcement and continues as planned”.
It also disclosed that it will begin the “search process for his successor will be launched imminently”.
Bruce Hemphill, Old Mutual plc CEO and Chairman of OMEM, said: “On behalf of Old Mutual, I would like to thank Ralph for his dedicated leadership of the OMEM business over the last five years. He has been an excellent leader and we wish him well in his future endeavours.
“I will work very closely with OMEM’s strong and deep management team to ensure there is no disruption to the business or its customers while we seek Ralph’s successor. Meanwhile, the managed separation process is unchanged and we will continue to maintain our engagement with key stakeholders throughout.”
Ralph Mupita said: “I have spent 16 great years at Old Mutual, and believe that I have made a contribution to the growth and development of the business over that time. But I feel the time is right for me to pursue other challenges outside of the industry.
“Old Mutual plays an important role in the socio-economic transformation of South Africa and the other key markets in which it operates, and it has been a privilege to have been part of such an august and iconic institution. I wish the business every success in the future.”