JOHANNESBURG – Axed Old Mutual chief executive Peter Moyo on Monday slammed the insurer for failing to take harsher steps against board chairperson Trevor Manuel, after his outburst against Judge Brian Mashile. Moyo told reporters that the company should have done more to deal with Manuel following his labelling of Judge Mashile as “a single individual who happens to wear a robe”.
Moyo also questioned the board’s unity on his dismissal, charging that there were divisions on whether to reinstate him. On Monday, Moyo upped the ante, asking the South Gauteng High Court to allow him to submit a second letter of dismissal from the company as part of his evidence, filing a court application to return to his job today.
Old Mutual holds a 20percent stake and maintains that Moyo paid ordinary dividends, which he benefited from to the tune of R31million, before paying the firm as a preferential shareholder and institutional investor. “You will recall that Old Mutual initially stopped Mr Moyo from going back to work, and we brought an application for contempt. Subsequent to that, Old Mutual tried to terminate his contract fora second time, and we have brought that to the court.”