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MMI announces a new Deputy CEO and other key executive changes

Published: Jun 22, 2017 7:00:00 AM South Africa Standard Time

MMI has promoted Mary Vilakazi to the role of Deputy CEO, who will now also be responsible for driving the effective implementation of MMI’s plans.

MMI Holdings Limited (MMI) today announced a number of key leadership changes, including the appointment of a new Deputy Chief Executive Officer.

MMI has promoted Mary Vilakazi to the role of Deputy CEO, who will now also be responsible for driving effective and excellent implementation of MMI’s plans. Vilakazi’s responsibilities will include MMI Group Finance, Information Technology and Operations.

MMI Group CEO Nicolaas Kruger says, “Mary has a proven track record in her role as Group Finance Director over the past two years. We are very excited about Mary’s new role and confident that Mary will ensure excellence in the implementation of our plans. To assist Mary with these focus areas, we have created two key positions that will report to her, namely a Group Chief Financial Officer and Group Head of Operations”.

The Group Chief Financial Officer is Risto Ketola who will be responsible for Investor Relations, Business Performance, Group Reporting, Finance Group-wide Services, Mergers and Acquisitions and Balance Sheet Management (BSM). Ketola joined MMI in 2016 as an Investor Relations and Business Performance Executive. Before this, he was a top-rated insurance analyst in the industry.

Kruger says, “In the time that Risto has been at MMI, he has proven himself to be a seasoned executive whose sharp analytical mind and business acumen have won him respect. He has attended our MMI Group Exco meetings since he started at MMI and has brought valuable insights to the team and contributed to robust debate”.

The Group Head of Operations is Ashlene van der Colff, who will be responsible for ensuring that MMI operations and work practices are robust, effective and efficient in delivering to the business across the value chain of operations. Van der Colff joined MMI as the Chief Internal Audit Executive in 2016 with a specific mandate to ensure that internal audit operates in a way that continues to add value to the business and the MMI Audit Committee.

“Ashlene has proven to be an astute business leader. She is a strategist with a proven track record on implementing business processes and before she joined us at MMI she was Divisional Director for Operations at her previous employer”, states Kruger.

The new CEO of Momentum Retail is Dr. Khanyi Nzukuma. He has been a member of the MMI Exco for the past three years as CEO of Metropolitan Retail and has a good track record. Previously Nzukuma was CEO of Momentum Consult, an MMI subsidiary and a brokerage that focused on end-to-end solutions for corporates and individuals.

Kruger says, “Khanyi has led the revitalisation of Metropolitan and has seen the business grow from strength to strength. He is a skilled, respected and authentic leader within both retail brands. To facilitate a smooth hand-over process, Khanyi will remain responsible for Metropolitan Retail until we announce his successor in the near future”.

“We believe these leaders, who are seasoned executives in the industry, bring the right skills and experience to meet MMI’s strategic goals and drive excellence in the implementation of our operational plans as we strive to achieve our purpose of enhancing the Financial Wellness of people, their communities and their businesses”, concludes Kruger

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