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Johannesburg - London-listed financial services group Old Mutual announced on Wednesday that chief executive Jim Sutcliffe has decided to step down with immediate effect. The board has
accepted his resignation.
Julian Roberts has been appointed as the new chief executive.
Roberts has been chief executive of Skandia since February 2006 and before that group finance director of Old Mutual plc.
Chris Collins, chairperson of Old Mutual plc, said: "On behalf of the board, I would like to express our thanks for the great contribution Jim has made to the group over the past eight years. We wish him well for the future.
"We are fortunate in having an executive of the calibre of Julian, who is familiar with both the industry and the company. This broad experience means he is very well qualified for the job."
Roberts said: "Old Mutual is a great company with fantastic potential but also a number of challenges, which I look forward to tackling."
- I-Net Bridge