BREAKING NEWS: Old Mutual suspends CEO Peter Moyo over ‘breakdown in trust’

Financial services group Old Mutual says it has suspended CEO Peter Moyo over a “breakdown in trust”.

The board, chaired by former finance minister Trevor Manuel, had suspended Moyo with immediate effect, it said.The announcement was “totally unexpected”, said Cratos Capital trader Greg Davies. Old Mutual’s shares opened 6% down at R20.40 on Friday morning, before recovering slightly to R20.56.Moyo rejoined Old Mutual in June 2017 as CEO of Old Mutual Emerging Markets, and later of Old Mutual, having left in 2005 to take over at Alexander Forbes.

GenMQ With that job and pay, I find it puzzling that he had the inclination or the time to pursue his private interests.

Ao banna! Then it’s over mos. Eish

I don't know who Peter Moyo is, let me rather go 'mute' .... but I wonder who did he cross paths with amongst the untouchables.

Watch this space....whatever the issue is here ...Moyo is not going back....trust is never regained

That’s one of the most loaded corporate announcements of the year. Immediate CEO suspensions are usually crisis management measures. Should I buy more OMU? Should I sell on this news? My nerves are killing me.

ermbates So, what does it mean 'material breakdown in trust and confidence'? Is this the Thuma mina syndrome?

lmao.... the breakdown of the proverbial MutualTrust ! iwyze OldMutualSA

Eish! The effect on share value and investor confidence 🤪

'Material breakdown in Trust &$& Confidence' - OldMutualSA ... Please take us (The paying clients/customers) into confidence in this regard... PeterMoyo Moyo OldMutual

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