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BL Premium reports that Old Mutual is confident that any further legal challenges from its ousted CEO Peter Moyo won’t derail its attempts to appoint a new leader and put the eight-month dispute behind it.
“The legal advice that we have and the position that the board is taking consequent to that advice is that there is enough certainty to move forward, so they will start the process,” Iain Williamson, who was appointed to replace Moyo on a temporary basis in May 2019, said on Tuesday. The position would be advertised “imminently”, he indicated. While there is “definitely more legal water to flow under the bridge”, the insurer is confident that going ahead “in a business-as-usual manner” and getting a new CEO will not entail any legal risks. This is despite Moyo having signaled that he will fight a ruling by three high court judges that upheld Old Mutual’s appeal against a ruling that it had to reinstate Moyo, whom the company originally tried to dismiss in June 2019. While that court case related to an urgent application filed by Moyo for a temporary reinstatement, he has brought a second, non-urgent case in which he has argued that his employment was unlawfully terminated and that he should be compensated. Furthermore, Moyo has filed papers accusing Old Mutual of contempt of court for preventing him from entering the insurer’s premises and resuming work, even when he was given a temporary reinstatement by the high court.
- Read the full original of the report in the above regard by Lukanyo Mnyanda at BusinessLive (paywall access only)
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