As Peter Moyo fights back, Old Mutual’s credibility is on the line
Despite a court overturning Moyo’s firing, Old Mutual plans to defend its case, but the whole thing ‘casts a very bad light’ on the insurer
Old Mutual, fresh from an embarrassing court ruling that reinstated its fired CEO, is facing another battle over whether Peter Moyo can start working again.
The insurer said late on Tuesday that it will appeal the Johannesburg High Court judgment and that Moyo is therefore not “required or permitted to resume his duties”. Moyo arrived at the company’s headquarters on Wednesday, and will meet with Old Mutual and his legal team later in the day to resolve the situation, Moyo’s lawyer Eric Mabuza said.