Peter Moyo’s Old Mutual appeal might seem opportunistic
Moyo has filed an urgent application to stop the CEO appointment process while he is appealing against a January ruling by the full bench
Former Old Mutual CEO Peter Moyo’s initial victory in court was so unexpected that few people are prepared to make a firm statement on what the final outcome will look like — other than that Moyo and Trevor Manuel will never be on the same board again. In mid-January, many might have thought that after a full bench of high court judges overturned that initial victory the Old Mutual board could get back to its business; the most pressing aspect of which was the appointment of a new CEO.
But Moyo is refusing to give up. He has filed an urgent application to stop the CEO appointment process while he is appealing against the January ruling by the full bench. This obviously raises the possibility of lots more potentially damaging headlines for the insurance giant as well as the possibility of some uncertainty if the CEO search process has to be suspended.