Pan-African financial services group Old Mutual Limited has appointed Dr Claudia Manning and Dr Phumla Mnganga as independent non-executive directors as part of its ongoing board renewal and governance strategy.
The appointments took effect on June 1, 2026, and were announced in a statement issued in compliance with the Johannesburg Stock Exchange (JSE) Listings Requirements.
Old Mutual Board chairman Trevor Manuel said the new appointments would enhance the board's depth of expertise as the group advances its growth agenda.
"We are delighted to welcome Dr Claudia Manning and Dr Phumla Mnganga to the Old Mutual Board. Their extensive experience and leadership capabilities will further strengthen the Board as we continue to focus on sustainable growth and value creation," Manuel said.
Dr Manning will serve on the Responsible Business Committee, including the Group Customer Committee sub-committee, as well as the Remuneration Committee. Dr Mnganga has been appointed to the Remuneration Committee and the Technology & Platforms Committee.
According to Old Mutual, Dr Manning brings more than 25 years of experience spanning investment management, finance and economic development. She currently serves as an investment principal at the SA SME Fund, where she focuses on fund investments, due diligence and portfolio management, including environmental, social and governance considerations.
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Her previous governance roles include serving as a non-executive director at Rothschild & Co South Africa, the Development Bank of Southern Africa and the Public Investment Corporation. She also chairs Mondi Zimele and has previously held executive leadership positions, including Managing Director of DAI Southern Africa.
Dr Mnganga joins the board with extensive experience in corporate governance and executive leadership across listed companies. She currently serves on the boards of Altron, Adcorp and Exxaro and has previously chaired Crookes Brothers South Africa and Novus Holdings.
Her career includes senior leadership roles at Gold Circle Group, Tongaat-Hulett and Deloitte Consulting, where she was involved in business transformation, organisational development and stakeholder engagement. She is also the founder of Lehumo Women's Investment Holdings.
Old Mutual said the appointments form part of a structured succession and renewal process designed to maintain an appropriate balance between continuity, institutional knowledge and strong governance standards.
The company added that comprehensive fit-and-proper assessments were conducted in line with JSE requirements and that the board was satisfied both appointees met all governance and regulatory standards.
Old Mutual operates in 12 African countries and maintains a niche presence in China. The financial services group traces its history in sub-Saharan Africa back more than 181 years.
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