Julian Roberts presented his last results this week as Old Mutual's boss, leaving on a high note, but most of his tenure was beset by problems in the group's US and European businesses after the global recession. Bruce Hemphill, Liberty Holdings' former CEO and Roberts's former rival, will take over in November , according to a company announcement in April.story_article_left1Roberts said he was "surprised it [his resignation] was a surprise to people".He denied rumours that he was let go, saying the decision to step down was discussed at board level and it was the right time as he had done what was needed for the group. "It is time for someone to take it forward in the longer term," he said."There is never the right time, but everybody says it is better to go before people expect you to, rather than hanging on."Roberts, who joined the global insurer in 2000 as financial director, took the helm from Jim Sutcliffe in 2008 after Sutcliffe fell on his sword when Old Mutual reported mounting losses at its US life business.Roberts was by Sutcliffe's side when the company put a "for sale" sign on its short-term insurer, Mutual & Federal.After a year on the Old Mutual board, Sutcliffe ended his relationship with the group and joined Hemphill at Liberty as an executive director.While delivering Old Mutual's results for the half-year to June this week, Roberts said he was "delighted" to pass on the group's reins to Hemphill when the company was in such "robust health". However, he warned his successor and the market that the next six months would be challenging. He sees most of the headaches coming from emerging markets and exchange rate volatility."I am confident that by remaining focused on meeting our customers' needs and improving the operating efficiencies of the business we will continue to make good progress," Roberts said.The 170-year-old insurer reported a 25% surge in first-half profit thanks to strong business operations in South Africa and the rest of the continent. The rest-of-Africa operations realised a 31% rise in profit with good growth in Zimbabwe, Malawi and Namibia.Roberts jokingly said that leaving on a high was better than leaving on a low, adding: "It's a nice feeling when your last results presentation is as good as this."story_article_right2Some of Roberts's highlights as group CEO were "making the right strategic decision[s]" to grow in sub-Saharan Africa, to exit some of the European operations and thus grow the group's balance sheet, and to grow Skandia into a formidable wealth business unit.Regrets are that he will not oversee the completion of Mutual & Federal' s turnaround strategy and see it produce the profits it is capable of, and not completing the IT integration of the businesses.When he was asked what his legacy would be, Roberts said it was that "Old Mutual is in a better stage and we have got our identity back". The company had been marred by "a lot of false moves" but now it was a much "simpler business", one focused on growing the Africa and wealth businesses.Roberts has not met Hemphill since his departure from the group was announced. "I do not know him well. I have met him a couple of times, but that is all."He dodged a question on whether there were plans to return group headquarters to South Africa from London : "That is one of the first questions you should ask Bruce [Hemphill]."Ralph Mupita, the Old Mutual Emerging Markets CEO, said his team would miss Roberts and his humour. Mupita praised him for doing a fantastic job in leading the group and leaving it in such a strong position...