Old Mutual and former CEO Peter Moyo to hear their fate on Tuesday


- businesslive.co.za | 6 months ago

Peter Moyo will hear his fate in relation to his temporary reinstatement as CEO of Old Mutual on Tuesday, following the postponement of the judgement that was due to be handed down in the Johannesburg high court on Friday.

Judge Brian Mashile will give his decision on the matter involving Moyo and his erstwhile employer, Old Mutual, following the breakdown in their relationship, which led to Moyo’s dismissal in June. Old Mutual says Moyo was not fully transparent with the company concerning the nature of a conflict of interest that related to NMT Capital, a company in which Moyo and Old Mutual were minority shareholders and which Old Mutual had lent money to.

In response, Moyo maintains he did nothing wrong and accused Old Mutual chair Trevor Manuel of a “triple conflict of interest” in relation to his role as chair of the company and also of Rothschild SA, which had advised Old Mutual on its managed separation.

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