LONDON (dpa-AFX) - Old Mutual Limited (ODMTY.PK, OML.L) announced the Board's decision to separate with the CEO, Peter Moyo. The Board has suspended Moyo, and appointed Chief Operating Officer Iain Williamson, as acting CEO. The Board said its decision is due to a material breakdown of trust and confidence, and is not related to any financial misconduct of the Group's business.
Separately, releasing an operating update, Old Mutual said it will become increasingly challenging to achieve RFO target over the three year target period. However the Group affirmed its other medium term targets.
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