EDITORIAL: Old Mutual urgently needs a new leader
Dispute with former CEO Peter Moyo is distracting the board and affecting the share price
When Old Mutual’s board picked Peter Moyo as CEO-in-waiting in 2017, it knew it needed to put safeguards in place for the corporate governance minefield it had just created.
Two years later, a landmine exploded. The board is distracted by an ugly tussle with Moyo and shareholders are watching their stock fall behind. The company is without a leader at an inopportune time.