In the hot seat: Outgoing Old Mutual CEO reflects on his tenure during turbulent times

Iain Williamson, outgoing Group CEO of Old Mutual, joins Stephen Grootes for an in-depth interview on The Money Show.

The Old Mutual Group announced in February that CEO Iain Williamson had decided to take early retirement at the age of 55, planning to step down in August 2025.

Williamson has a 32-year association with the Group, having joined Old Mutual in 1993.

He took over as CEO in July 2020, bringing leadership stability after the exit of Peter Moyo in the middle of 2019 over an internal dispute invovling alleged conflict of interest.

Taking over this particularly hot seat was soon followed by another challenge, when the COVID-19 pandemic resulted in a hard lockdown.

Stephen Grootes talks to the outgoing CEO about the lessons learnt during these tumultuous times.

Williamson highlights that loyalties were taxed among staff following Moyo's departure, making the point that Old Mutual's 20 000-odd employees broadly mirror the spectrum of society in South Africa.

"With all those dynamics at play, keeping everybody focused on the task at hand was challenging. And then afterward we went into a hard lockdown and had to deal with all the COVID issues, so the first three years of my tenure I guess were unusual."

Iain Williamson, Outgoing Group CEO - Old Mutual

The key is to focus on the principles and values your company stands for he says, and then to ensure open communication.

"It's about being very factual, open and honest with people about what's going on and sharing as much as possible and sharing FREQUENTLY, so that there's no sense that things are being hidden from them."

Iain Williamson, Outgoing Group CEO - Old Mutual

"In a corporate environment it's also very much about a call to action around staying focused on the task at hand, and  continuing to give customers the best service you can and driving the best solutions in order to keep the business moving forward."

Iain Williamson, Outgoing Group CEO - Old Mutual

Williamson also emphasizes staying focused on 'the real issues' rather than what he says can be a distracting narrative.

This also applies to current uncertainty around the government of national unity, and the impact of the tariffs imposed by the Trump administration in the US.

"Two months ago I would have said South Africa's economic recovery was on track... now it's a little bit more like 'all bets are off'."

Iain Williamson, Outgoing Group CEO - Old Mutual

"It's about having the ability to take the signal out of the (political) noise... but ultimately the fundamental health of the business hangs on the health of the consumer."

Iain Williamson, Outgoing Group CEO - Old Mutual

To hear more from Williamson, listen to the interview audio at the top of the article