Old Mutual ordered to reinstate CEO pending court application

SABC News Peter Moyo - Old Mutual ordered to reinstate CEO pending court application

The High Court in Johannesburg has ruled that Peter Moyo should be reinstated as Old Mutual CEO on a temporary basis pending the outcome on the second part of his court application. The court also interdicted the company from filling his position.

Old Mutual fired Moyo citing a conflict of interest with an investment firm he founded.

Moyo filed an urgent application for his reinstatement after he was ousted in May. Old Mutual has been ordered to pay Moyo’s legal fees in the matter.

The second part of his application pertains to the board. Moyo wants Old Mutual’s board to be declared “delinquent,” which would prevent them from holding any directorship positions for a number of years.

WATCH VIDEO BELOW: 

The post Old Mutual ordered to reinstate CEO pending court application appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Leave a Reply

Your email address will not be published. Required fields are marked *