THE Old Mutual Africa chief executive officer, Johannes !Gawaxab, announced in Windhoek yesterday that he will go on early retirement in December this year.
!Gawaxab, (57), will retire four years earlier than the Old Mutual retirement age of 61.
Speculation in Swapo circles is that the respected business leader will be asked to be part of the new Cabinet in March next year.
The ruling party is widely expected to win elections scheduled for this year and its candidate, Hage Geingob, is tipped to become Namibia’s third president.
But !Gawaxab said his retirement is voluntary and that he has not decided what to do next.
“I have offers from the United States and South Africa. But I have not yet made up my mind,” said !Gawaxab,
who has worked for Old Mutual for 16 years, half of which he has been CEO for Africa overseeing operations in Namibia, Zimbabwe, Kenya, Malawi, Nigeria, Ghana and Swaziland.
He will continue his association with the company in a non-executive capacity on several boards including Namibia, Kenya, Nigeria, Zimbabwe, Ghana and the Old Mutual Africa Holdings board starting in April 2015.
“There is a time to enter and there is a time to exit. They say great leaders do great things and smart leaders know when to make way for others,” he said.
!Gawaxab joined Old Mutual in 1998 as CEO of Old Mutual Asset Managers Namibia and was appointed MD of Old Mutual Group in 2003 before his appointment to lead African operations.
The happiest people following his decision to retire are his wife and family.
“My wife said, I have my husband back. I spend about 180 days outside the country every year. I live in hotels and planes,” he said of his frequent travels in Africa.
“If you stay in one place, you stagnate. I have served Old Mutual, above board with integrity and respect,” said !Gawaxab
“I have no fears of losing power. I can do many other things,” he said.
Under his leadership, Old Mutual’s profit increased from N$128 million in 2006 to more than N$1 billion in 2013 and assets under management rose from N$22 billion to N$64 billion over the same period.
