Old Mutual Holdings PLC has announced board changes following the resignation of an executive director and the retirement of a long-serving non-executive director, with both departures taking effect on 10 March 2026.
In a notice dated 16 March 2026, the board confirmed that Craig Aitchison has resigned as an Executive Director. Aitchison joined the board on 14 June 2024 and, during his tenure, contributed to the group’s strategic direction and governance oversight.
“The Board of Directors of Old Mutual Holdings PLC wishes to announce the resignation of Mr. Craig Aitchison as an Executive Director, with effect from 10 March 2026,” the notice stated.
While on the board, Aitchison served as Chairperson of the Committee for Customer Affairs, where he played a central role in overseeing the implementation of the customer affairs strategy.
His responsibilities covered market conduct matters, distribution and channel development, and the committee’s contribution to shaping the company’s sustainability strategy.
He also served on the Technology, Digital, and Innovation Committee, providing strategic guidance on digital transformation, technology risk, governance, and innovation across the group. The board noted that, despite his relatively short time in office, his input was valuable to the company.
Director Robert Mbugua Exits After Nine Years
The notice also confirmed Robert Mbugua’s retirement as a Non-Executive Director following the completion of his nine-year term on the board. Mbugua joined Old Mutual Holdings PLC on 1 July 2017 and was credited with making significant contributions to the company’s strategic objectives and governance oversight.
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During his service, Mbugua chaired the Board Risk and Compliance Committee, where he led efforts to strengthen risk management practices, enhance regulatory compliance, and deepen stakeholder engagement.
He previously served as Chair of the Board Audit Committee, overseeing the integrity of the company’s financial statements, its financial and tax position, balance sheet restructuring, and the strengthening of control, oversight, and governance across the group.
The board described Mbugua’s contributions as extending beyond technical expertise, citing his commitment to the company’s success and the positive influence he brought to board deliberations.
“Beyond his technical contributions, Mr. Mbugua brought sincerity, humility, and a deep commitment to the Company’s success. His presence on the Board enriched the Company and all those who had the privilege to serve alongside him,” read the notice.
In closing, Old Mutual Holdings expressed its sincere appreciation to both directors for their impactful service and wished them continued success and fulfillment in their future endeavors.
The notice was issued by order of the board and signed by Nannette Miingi, Group Company Secretary and Legal Counsel, in accordance with the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023, and approved by the Capital Markets Authority(CMA).
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Old Mutual Holdings Records Steady Business Recovery
Old Mutual Holdings PLC is a financial services group with operations across East Africa, offering insurance, investment, and savings solutions to individuals and businesses.
Beyond the board changes, Old Mutual recently reported steady progress in its business, pointing to a company that is stabilizing and refocusing.
The group posted a profit for the 2025 financial year, continuing a recovery after earlier losses, with growth largely coming from its investment management and life insurance businesses.
Old Mutual has also been pushing more services onto digital platforms, making it easier for customers to buy products, manage policies, and invest online.
At the same time, the company has been streamlining its operations by exiting fewer viable markets and concentrating on core countries in East Africa, while strengthening its governance and sustainability commitments.
