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BL Premium reports that Old Mutual chair Trevor Manuel has apologised unreservedly for his criticism of a judgment that reinstated Peter Moyo as CEO at the insurance company.
In a statement released on Tuesday, the former finance minister apologised for the comment he made at a media conference last week that the Old Mutual board’s decision to fire Moyo was able to be overturned “by a single individual who happens to wear a robe”. Manuel’s comments were made in reference to Judge Brian Mashile, who ruled that the board’s dismissal of Moyo was illegal and ordered his reinstatement. “My unguarded observation, although withdrawn, has understandably caused discomfort for which I apologise unreservedly, to the honourable judge presiding and to my fellow South Africans,” Manuel said. Moyo and Old Mutual have been involved in a public battle because the insurer fired him in June, citing a breakdown in trust and an alleged conflict of interest. Moyo then sued for unfair dismissal. The Johannesburg High Court ruled in his favour and twice ordered his reinstatement. But Old Mutual barred Moyo from resuming his duties as it was appealing the judgments, and because it has issued a second dismissal letter.
- Read the full original of the report in the above regard by Lisa Steyn and Genevieve Quintal at BusinessLive (paywall access only)
Read too, Manuel apologises to judge for snide remark, at SowetanLive
Get other news reports at the SA Labour News home page