Old Mutual vs Moyo: Now for round two
Moyo has been reinstated, but the spat’s ugliness means he’s unlikely to have a long-term career at Old Mutual
Only two things seemed certain on Tuesday as the investment community digested the high court judgment in the Old Mutual vs Peter Moyo wrangle: the insurance giant would relaunch its bid to remove its CEO and this time it would play close attention to procedure; and Moyo was in line for a much more attractive settlement from his employer of two years.
The high court reinstated Moyo to his position of CEO, after he was fired in June following a "breakdown of trust" between him and the board, chaired by former finance minister Trevor Manuel...
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