Old Mutual has hit out at its former CEO, Peter Moyo, ahead of a court hearing in the Gauteng high court which began on Monday in which the group’s former boss is seeking both reinstatement and R250m in damages from the company.

The case centres on whether Old Mutual was entitled to terminate Moyo’s contract on six months’ notice as per the terms outlined in his employment contract. Old Mutual said Moyo’s case against it “will be defended vigorously as having no merit” as it was entitled to terminate his employment by giving notice in accordance with the contract, which ultimately saw the firm pay him six months’ salary...