Share
Old Mutual to press ahead with finding new CEO
Old Mutual is forging ahead with plans to appoint a new CEO to replace Peter Moyo. South Africa’s second largest insurance company said it would proceed with its recruitment process while awaiting judgement on Moyo’s application to have the process stopped. Old Mutual’s Head of Communications, Tabby Tsengiwe spoke to CNBC Africa for more.
Tue, 10 Mar 2020 16:04:42 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Old Mutual faces legal challenges as it moves forward with appointing a new CEO to replace Peter Moyo.
- Despite the ongoing court battles, the company remains focused on business operations under interim CEO Ian Williamson.
- Old Mutual is committed to resolving the dispute with Moyo and remains open to an amicable settlement.
Old Mutual, South Africa's second-largest insurance company, is moving forward with its plans to appoint a new CEO to replace Peter Moyo. Despite the ongoing legal battle and uncertainty surrounding Moyo's dismissal, the company remains focused on its recruitment process. The high court in Johannesburg recently reserved judgment on Moyo's application to block the hiring process, citing the previous ruling that found Old Mutual lawfully terminated his employment. Tabby Tsengiwe, Old Mutual's Head of Communications, addressed the media after the court proceedings, emphasizing that the company is committed to business as usual. Under the leadership of interim CEO Ian Williamson, Old Mutual continues to operate seamlessly and is set to present its financial results to the market on March 16th. While the CEO recruitment process is confidential, Tsengiwe confirmed that it is ongoing following a favorable court ruling. Despite the legal challenges, Old Mutual remains open to an amicable resolution with Moyo. The company's priority is to ensure continuity and stability in its leadership amid the ongoing dispute.
SIGN UP FOR OUR NEWSLETTER
DAILY UPDATE
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.