Old Mutual is planning to appeal the South Gauteng High Court ruling, ordering the reinstatement of its axed CEO.
Peter Moyo won a bid against the insurance company to be temporarily reinstated with immediate effect, and his dismissal declared unlawful.
Meanwhile Old Mutual insists it followed sound governance principles when it took the decision to fire Moyo. The insurer also says it gave a valid notice under his employment contract.
Old Mutual suspended Moyo in May and later fired him as CEO last month, citing a conflict of interest in his personal business matters.Ian Williamson will continue as interim CEO.
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Source: eNCA
