Tag: Peter Moyo
After two stints as acting CEO of Old Mutual, the pan- African Financial services group has made official Iain Williamson’s role as head of the company. Williamson first served as acting Old Mutual in 2017 and again in 2019 when the company fired its former CEO Peter Moyo following a conflict of interest that resulted in breakdown of trust and confidence. Iain Williamson joins CNBC Africa for more.
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.
Peter Moyo will soon file an urgent court bid to appeal the verdict that today declared Old Mutual’s decision to fire him as CEO as lawful. Moyo’s leave to appeal comes just hours after the insurer won its own appeal application against Moyo’s temporary reinstatement last year. CNBC Africa’s Fifi Peters spoke with Moyo's Attorney, Eric Mabuza and Old Mutual spokesperson Tabby Tsengiwe.