The shares were trading at R21 per share at 1330 GMT in Johannesburg, down 3.23%. Chief Operating Officer Iain Williamson has taken over as acting CEO, Old Mutual said. Since its listing as a separate business in June 2018, Old Mutual has worked to hone its strategy as a stand-alone business and parent company to what remains of Old Mutual. Old Mutual announced a R2 billion ($139 million) share buyback in March in a bid to placate shareholders following an almost one-third drop in the share price after its listing.