SACKED OLD MUTUAL CEO TO SUE SOUTH AFRICAN INSURER

Old Mutual’s former chief executive Peter Moyo plans to take the South African Insurer to court over an alleged conflict of Interest. The newly-listed Insurer had said in a Statement that it had sacked Moyo after the break down of attempts to separate amicably following his suspension as CEO in May.

Mr Moyo’s lawyer said that they are set to challenge Old Mutual’s conduct in Court. The breakdown between Moyo and Old Mutual made his departure difficult and potentially costly as the South Africa’s second largest Insurer could be ordered to make a payout to its former CEO if he wins his case in Court.

 

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