"Just do something" is the cry now rising from all over South Africa. It is useful to replay what has been done, writes JP Landman.
“We hope that the courts rule in Old Mutual’s favour and that Peter Moyo leaves the group without a large financial settlement."
Every now and then directors are unfairly removed from office by a hostile board. When this occurs, they face numerous challenges. One of them is that the legal remedies open to them are unclear, says Rehana Cassim.
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.
Amid continued uncertainty at Old Mutual as Peter Moyo’s future as CEO hangs in the balance, investors are calling for an end to the impasse sooner rather than later.
Newly reinstated Old Mutual CEO Peter Moyo is on Thursday set to again return to work, his lawyer has said, adding that any attempt to block him would be in violation of a court order for his temporary reinstatement.
Old Mutual will appeal the High Court ruling on Tuesday which re-instated Peter Moyo as CEO, a company spokesperson confirmed to Fin24.
Old Mutual CEO Peter Moyo is ready to report for duty immediately after his court victory on Tuesday and does not foresee any problems having a working relationship with the board and the chairperson Trevor Manuel.
Moyo was suspended in May and later fired as CEO of the JSE listed insurer in June. The company asserted this was due to a conflict of interest in his personal business matters.
Axed Old Mutual CEO Peter Moyo is expected to hear his fate in the Johannesburg High Court, where he has hauled his former employer to court.
Old Mutual ex-CEO Peter Moyo's legal team on Thursday argued that the breakdown in trust cited by his former employer as the reason for his dismissal was "manufactured" and that his reinstatement was "inevitable".
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 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.
Old Mutual has filed an urgent declaratory order application, seeking to prevent its newly reinstated CEO Peter Moyo from resuming his duties.
The Black Management Forum (BMF) says the legal wrangle between Old Mutual and its embattled CEO Peter Moyo is a “smokescreen” to hide real issues at the financial services firm.
Axed CEO Peter Moyo reported for duty on Wednesday morning despite a statement by Old Mutual late on Tuesday night that it would immediately appeal the court order reinstating him.
Axed Old Mutual CEO won his bid to be reinstated at Old Mutual on Tuesday. The High Court in Johannesburg ruled that his dismissal was unlawful. Moyo said he would return to work tomorrow.
Old Mutual Limited's share price, already on a downward trend during Tuesday, declined further after the Gauteng High Court in Johannesburg interdicted the insurer on Tuesday from appointing anyone in the place of axed CEO Peter Moyo.
The Gauteng High Court in Johannesburg will rule on Tuesday on former Old Mutual CEO Peter Moyo’s urgent application to be reinstated and for his dismissal to be declared unlawful and unconstitutional.
Advocate Hamilton Maenetje the loss of confidence in former CEO Peter Moyo came from how he handled a conflict of interest and as oppose to his position in both Old Mutual and NMT Capital, which he had declared.
Old Mutual has presented Moyo as cocky and self-important, but experience says he's not, says Ferial Haffajee.
Cape TownTracking Talent
Cape TownAmazon Development Centre SA (Pty) Ltd
Somerset WestFinovate PeopleR15 000.00 Per Month Per Month
R 11 800 000
R 3 400 000
R 2 495 000
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.