Old Mutual’s board struck a conciliatory tone on Wednesday, saying the nasty fight between the insurer and axed CEO Peter Moyo had dragged on for too long and it was perhaps time for the two parties to negotiate a settlement.

The boardroom brawl, which started in May when Old Mutual suspended Moyo and later fired him over an alleged conflict of interest, has weighed on the insurer’s share price and is threatening to tarnish its reputation after a court ruled that Moyo must be reinstated as his dismissal was unlawful.

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