Old Mutual Confirms Exit of Two Top Directors

Old Mutual Holdings Plc has announced the exit of two senior members of its board, marking a transition in its leadership structure.

In a notice dated Thursday, March 19, 2026, the company confirmed the retirement of Robert Mbugua as a Non-Executive Director, effective March 10, 2026, after completing his 9-year term on the board.

“The Board of Directors of the Company would like to announce the retirement of Mr Robert Mbugua as a Non-executive Director with effect from 10 March 2026, having completed his 9-year term,” said the Board.

Mbugua joined the board on July 1, 2017, and played a key role in advancing the company’s strategic objectives and strengthening governance oversight.

During his tenure, he served as Chairperson of the Board Risk and Compliance Committee, where he contributed to enhancing risk management practices, regulatory compliance, and stakeholder engagement.

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He also previously chaired the Board Audit Committee, overseeing the integrity of financial statements and the company’s financial reporting processes. In that role, he oversaw key strategic initiatives, including balance sheet restructuring and strengthening internal controls and governance across the group.

The company noted that Mbugua brought strong leadership qualities, integrity, and a deep commitment to the organisation, adding that his contributions enriched both the board and management.

Craig Aitchison Resigns  as Old Mutual Executive Director

At the same time, the board announced the resignation of Craig Aitchison as an Executive Director, also effective March 10, 2026.

Aitchison joined the board on June 14, 2024, and has made valuable contributions to the company over the years.

He served as Chairperson of the Customer Affairs Committee, where he oversaw the implementation of customer strategy, market conduct, distribution channels, and sustainability initiatives.

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He was also a member of the Technology, Digital, and Innovation Committee, providing strategic guidance on digital transformation, technology risk, governance, and innovation across the group.

The Board of Directors and Management expressed appreciation to both Mbugua and Aitchison for their service and dedication, wishing them success in their future endeavours.

“The Board of Directors and Management sincerely appreciate and extend gratitude to Robert and Craig for their impactful service to the Company and wish them continued success and fulfilment in their endeavours,’ said the Board.

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Outgoing Old Mutual Executive Director Craig Aitchison. PHOTO/Craig Aitchison