Old Mutual: Ranen Thakurdin CFO Appointment Effective 2027

• Old Mutual has named Ranen Thakurdin as its group CFO-designate, with his appointment effective from 2027.
• The appointment is subject to regulatory approval and will see him formally assume the role on April 1, 2027.
• Thakurdin, currently group chief risk officer, will succeed Casper Troskie, who retires on April 30, 2027, following a three-month transition period.
• He brings extensive experience from various senior finance and risk roles at Old Mutual, which he joined in 2018.
• Thakurdin is a qualified actuary, holds a CFA, MBA, and financial risk manager qualification, reflecting a well-considered succession plan.

Crucially, the appointment remains 'subject to regulatory approval,' a standard but significant condition in the South African financial services landscape.

Old Mutual has announced the designation of Ranen Thakurdin as its future group Chief Financial Officer, a significant development in the company's executive leadership. This key appointment, which is slated to become effective in 2027, marks a planned succession within the financial services giant. The transition is contingent upon receiving the necessary regulatory approvals, a standard requirement for senior roles in the South African financial sector.

Mr. Thakurdin is set to formally take on the responsibilities of group CFO on April 1, 2027. This timing aligns with the impending retirement of the current CFO, Casper Troskie, who is scheduled to conclude his tenure with Old Mutual on April 30, 2027. To ensure a seamless handover and continuity in financial operations, Mr. Thakurdin will engage in a three-month transition period, working closely with Mr. Troskie before assuming the full duties of the role. This structured approach underscores Old Mutual's commitment to a smooth leadership change.

Ranen Thakurdin brings a wealth of experience and a comprehensive understanding of Old Mutual's operations to his new role. Currently serving as the group chief risk officer, he is also an active member of the Old Mutual group executive committee, demonstrating his integral position within the company's strategic leadership. His journey with Old Mutual began in 2018, and since then, he has accumulated significant expertise across various critical finance and risk functions.

Throughout his tenure, Mr. Thakurdin has held several senior positions that have prepared him for the CFO role. These include serving as chief accountant, general manager of group reporting and insights, head of the office of the group chief financial officer, and head of capital and balance sheet optimisation. His diverse experience spans crucial areas such as financial reporting, capital management, treasury functions, corporate finance, strategic planning, governance frameworks, and enterprise risk management.

Beyond his practical experience, Mr. Thakurdin possesses robust academic and professional qualifications. He is a qualified actuary and a distinguished fellow of the Actuarial Society of South Africa. Further enhancing his financial acumen, he holds a Chartered Financial Analyst (CFA) designation, an MBA, and a financial risk manager qualification. This extensive background positions him as a highly credentialed leader ready to navigate the complexities of a major financial institution.

Old Mutual's statement regarding the appointment highlights that it is the outcome of a "well-considered succession process," indicating a deliberate and strategic approach to leadership transitions. The company expressed confidence in Mr. Thakurdin's ability to leverage his "extensive experience across both finance and risk," coupled with his "deep understanding of our business" and a "strong track record of leadership and execution." This endorsement suggests that the company views him as a key figure to build upon the foundations laid by his predecessor.

The announcement also emphasized the company's belief that Mr. Thakurdin will "continue to support the delivery of our strategic and financial priorities." This forward-looking perspective underscores the importance of the CFO role in steering the company's future direction. Crucially, the appointment remains "subject to regulatory approval," a standard but significant condition in the South African financial services landscape.

For legal professionals advising financial institutions or engaged in regulatory compliance, this condition serves as a pertinent reminder of the regulatory environment governing major financial services firms in South Africa. The need for explicit regulatory approval for a high-profile position like the group CFO underscores the sector's commitment to robust corporate governance and the critical relationship between financial entities and their regulators. This aspect is particularly relevant in the context of South Africa financial services executive appointments, where transparency and compliance are paramount.

For lawyers advising financial institutions or involved in regulatory compliance, this announcement underscores the ongoing regulatory scrutiny of senior executive appointments within major financial services firms, particularly given the 'subject to regulatory approval' clause. It serves as a reminder to monitor such approvals and understand the implications for corporate governance and regulatory relationships in the sector.

Source: Reporting based on company announcement.