Tag: Old Mutual
The Supreme Court of Appeal has dismissed with costs Old Mutual’s former CEO, Peter Moyo application, for leave to appeal the 14 January judgement in favour of Old Mutual. The January judgement overturned an interim order granted by Justice Mashile last year to temporarily reinstate Moyo as Old Mutual’s CEO. Moyo's lawyer Eric Mabuza joins CNBC Africa for more.
Financial services group Old Mutual managed to pull through a positive set of results despite the challenging economic environment and the ongoing executive leadership challenges. Joining CNBC Africa for more is interim CEO, Iain Williamson.
Old Mutual said full-year adjusted profit rose 7%, versus the already flagged expected increase of up to 9% - which it attributed mostly to higher returns on invested capital due to an improved market, as opposed to performance.
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. Moyo approached the courts to block the hiring process until his application to appeal the January 14 judgement that found Old Mutual lawfully fired him. CNBC Africa’s Fifi Peters caught up with Peter Moyo and his attorney Eric Mabuza.
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.
It’s the biggest corporate battle in South Africa – the brawl between the country’s second largest insurance company and its former Chief Executive. Peter Moyo is not giving up his fight to get his job back, while Old Mutual is continuing its search for a new CEO. CNBC Africa’s Fifi Peters filed this report.
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