When Peter Moyo walks into Old Mutual’s swanky offices in Sandton on 31 July as the life insurer’s reinstated CEO, his battle with the company’s top brass will be far from over.
Because of this, the court rendered Old Mutual’s axing of Moyo as unlawful and interdicted the insurer from appointing his successor – even though the company has already appointed chief operating officer Iain Williamson as acting CEO. This means that Moyo will continue to serve the four-and-a-half years remaining on his employment contract with Old Mutual.that the insurer’s board would appeal the judgment.
A delinquency status would undermine the credibility of the board in conducting their fiduciary duties of helping to lead Old Mutual and drive its strategy. The board could be fired, thrusting Old Mutual into a leadership crisis because it would have no permanent board. Now that Moyo has emerged successfully from the first part of his application, he is gunning for Manuel and Old Mutual’s board. Moyo’s lawyer Eric Mabuza confirmed he will proceed with the second part of the application.
Lol you could have acknowledged that he won the case
Good news. Moyo is bad news.
He must squeeze their jemnandas
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Joburg court orders Old Mutual to reinstate former chief Peter Moyo | IOL Business ReportPeter Moyo sought the assistance of the courts after the insurer first suspended and fired him in May over alleged conflict of interest.
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