The Public Investment Corporation (PIC), as a major shareholder in Old Mutual, has taken a keen interest in the fracas between former CEO Peter Moyo and the company.

PIC chair Reuel Khoza said this week: "We could not sit back as a major shareholder and not take accountability where our investee company is concerned." He added there had been "communication at executive level on several occasions, but at board level I have personally taken the trouble to talk to Moyo and his lawyers and get to understand what their stance is in terms of how best to resolve this situation".

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now