Forget finances, Old Mutual is set to pay dearly in the reputation stakes
The financial services giant set off on the wrong foot with the Peter Moyo crisis
It is not often that a leading CEO gets fired twice in as many months. The optics don’t look good for Old Mutual.
It looks like an incoherent crisis plan in the c-suite is what’s driving its bid to protect its reputation and brand and restore confidence and trust in the institution. Hardly a day goes by without a new development in this tit-for-tat saga, putting Old Mutual’s communications department in an impossible situation to deal with the situation effectively. The recent Sunday Times half-page explanation of Old Mutual’s position was its clearest communication yet on this issue, which regrettably came several weeks after it first fired Peter Moyo, its embattled CEO...