Sprinkles late. Morning clouds. Mild.
Axed Old Mutual CEO Peter Moyo says there is no punishment befitting Old Mutual directors other than six months' jail time, without the option of a fine, on contempt of court charges.
In court papers the insurance giant says there is no chance of a 'future successful relationship'.
An Old Mutual shareholder is urging the insurer to end its dispute with Chief Executive Officer Peter Moyo even if it means settling out of court.
Axed Old Mutual CEO Peter Moyo believes the board should take drastic action against chair Trevor Manuel.
Old Mutual chair Trevor Manuel has apologised for his "inappropriate" remark about a judge who delivered a ruling against the company in litigation involving its axed CEO Peter Moyo.
"Legal steps will be taken to bring the latest insults to the attention of the court."
Old Mutual’s results for the six months to end-June show a 10% increase in its headline profit to R5.2bn - thanks in part to higher investment returns in South Africa.
Old Mutual board chairperson Trevor Manuel says the board is united, contrary to the 'two bulls in a kraal' narrative created by Peter Moyo, Business Maverick reports.
“We hope that the courts rule in Old Mutual’s favour and that Peter Moyo leaves the group without a large financial settlement."
Old Mutual is set to head to court on Friday to battle it out with its on-again, off-again CEO Peter Moyo in the second round of a corporate clash that Moyo has dubbed 'David vs. Goliath' in court papers.
Peter Moyo has been treated badly, but he is still overplaying his hand, says Ferial Haffajee.
Old Mutual shareholders are split on whether the South African insurer should pony up and settle with Chief Executive Officer Peter Moyo or run the risk of a R250m damages claim.
Peter Moyo is now threatening to return to work with a sheriff in tow.
In an apparent blow to chairman Trevor Manuel, Old Mutual director Nombulelo Pinky Moholi has resigned with immediate effect.
The Black Management Forum has accused Old Mutual and its chair Trevor Manuel of disregarding the courts and the rule of law during its legal battle with axed CEO Peter Moyo.
Axed CEO Peter Moyo will not immediately be returning to work if Old Mutual has its way, the company said in a statement on Friday evening. But Moyo will be going to work on Monday, he told Fin24.
In a new affidavit, the on-again, off-again Old Mutual head says his second axing by the financial services giant was "deliberately calculated to undermine the efficacy of the judgement of this court".
In an open letter published on its website, the financial services provider said it took the step "after legal advice and on careful reflection by directors, with proper regard to their fiduciary duties to the company".
Old Mutual and on-again, off-again CEO Peter Moyo will hear the outcome of their increasingly acrimonious legal battle in approximately two weeks
Old Mutual’s on and off again CEO Peter Moyo was reinstated a week and a half ago by the Gauteng High Court in Johannesburg but he is yet to take up the reins again as he and the company’s legal team clash over what exactly the judgment means.
Cape Town Northern SuburbsPeoplefinder Career Placements
Somerset WestAfrica Experience Collection (PTY) LTDR40 000.00 - R70 000.00 Per Month
R 11 800 000
Apartments / Flats
R 6 250 000
R 2 750 000
We subscribe to the Press Code.
You choose what you want
News24 on Android
Get the latest from News24 on your Android device.
Terms and Conditions
24.com Terms and Conditions - Updated April 2012
Creating your profile will enable you to submit photos and stories to get published on News24.
This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.