OldMutualFin24 reports that axed Old Mutual CEO Peter Moyo has claimed he would suffer further reputational harm if the financial services company appointed a new CEO while there was an ongoing court battle.  

Moyo made the remarks in an urgent court application filed at the Johannesburg High Court on Friday.  He wants the court to interdict Old Mutual from appointing a new permanent CEO.  The matter is set to be heard on 10 March 2020.  Old Mutual, in a statement on Sunday, said it had received the urgent application and was considering legal advice before deciding on whether it would oppose.  It has until 20 February to file a notice of opposition to the application.  Moyo was suspended in May 2019 and later dismissed in June, with Old Mutual citing a breakdown in trust and a conflict of interest.  The two parties have been engaged in a legal battle ever since, with Moyo contesting his dismissal.  On 14 January, Old Mutual won its appeal against a July 2019 ruling that Moyo be reinstated.  But Moyo's legal team has since given notice of their intention to take the matter to the Supreme Court of Appeal.  According to Moyo's attorney, Eric Mabuza, the application for leave to appeal suspends the 14 January ruling.  Meantime, on 26 January, Old Mutual advertised for a new CEO.  Moyo contends that if a new CEO is appointed, he will suffer irreversible harm.  He said the harm he would suffer would be "unquantifiable" and it would not be possible to recover it by means of a damages claim.  "My right to work, dignity and self-worth cannot be replaced by money," he averred.


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