Old Mutual eyes Ingrid Johnson as finance chief

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Old Mutual eyes Ingrid Johnson as finance chief

Insurer Old Mutual was considering picking Nedbank executive Ingrid Johnson as its new finance director, a person familiar with the matter said yesterday. Johnson would become only the 10th female finance director among Britain’s top 100 firms if appointed. She is managing executive of retail and business banking for Nedbank, which is 52 percent owned by Old Mutual. The appointment had not been finalised and could change, the source said. Old Mutual’s board is to meet today before its first-quarter results and annual shareholder meeting tomorrow. – Reuters

eBucks pays out R4bn to customers

FNB’s eBucks Rewards had paid customers R4 billion in eBucks since inception in 2000, it announced yesterday. The loyalty programme reached this milestone 13 months after it celebrated the R3bn milestone, showing the consistent growth of the programme and the increasing activity of its members, Jolandé Duvenage, the chief executive of eBucks Rewards, said. – Ayanda Mdluli

Moody’s: Negative Gold Fields outlook

Ratings agency Moody’s said yesterday the outlook for Gold Fields remained negative based on the uncertainty surrounding inquiries by the US Securities and Exchange Commission (SEC) and the SA Directorate for Priority Crime Investigation. “We recognise the significant inroads made in aligning Gold Fields’s cost profile to accommodate the lower gold price,” said Moody’s analyst Douglas Rowlings. “However, we see uncertainty in execution on production and cost targets for [the] South Deep mine along with the outcome of the SEC probe into a black economic empowerment transaction associated with the mine,” he said. – Dineo Faku

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