Old Mutual has fired CEO Peter Moyo for a second time.
In an open letter to shareholders, the company said a continued relationship between Moyo and Old Mutual is untenable.
“It is clearly in the best interests of the company and its stakeholders that the employment relationship with Mr Moyo should come to an end. For this reason, Old Mutual has now given Mr Moyo a further notice terminating his employment,” read the letter.
Moyo sued the Old Mutual board for firing him unlawfully in June.
He wants the insurer to abide by last month’s court order that he be reinstated, he believes the company is in contempt of court.
Old Mutual said there was a conflict of interest with his NMT Capital.
The firm says the latest move was taken after it sought legal advice.
It says its directors also carefully reflected on the issue.
You might also like…Top 6 things Cassper Nyovest has achieved in 2019 so far
Top 6 Things Cassper Nyovest Has Achieved In 2019 So Far. Cassper is currently one of the biggest names in the SA hip hop industry. The rapper constantly make headlines because he is riding on the wave of success which earns him higher recognition.
Despite his opinions about certain things the rapper keeps on making history with all that he manages to achieve. continue reading…