OldMutualFin24 reports that Old Mutual has slammed on-off CEO Peter Moyo by saying the ongoing dispute between him and the insurer was a "public spectacle" and an indication that Moyo "continues to place his interests ahead of Old Mutual and its shareholders".  

"Interim CEO Iain Williamson, a veteran at Old Mutual of 26 years standing, is doing a sterling job, and operationally the business continues uninterrupted," Old Mutual said in a statement on Tuesday.  The drawn-out public spat between Moyo and the insurer was having a damaging effect on public morale in SA, Old Mutual added, saying that "public feuding at a bellwether financial services company does little to reassure South Africans that our economy is in good hands".  Moyo has been refused entry to Old Mutual's offices three times after the court ordered that he had to be reinstated.  He has been fired from the insurer twice.  Old Mutual believes the second axing stands.  For his part, Moyo believes the insurer is in contempt of court for blocking him from returning to work.  He also reportedly plans to file an application to have Old Mutual's directors declared delinquent.  While Old Mutual promised stakeholders on Tuesday that it was committed to a speedy resolution, it alleged it was "critical" to remind stakeholders that Moyo had started the feud.


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