The battle between Old Mutual and its CEO, Peter Moyo, is still ongoing, and now the company has taken further action against him.
Old Mutual, which is currently under pressure from its shareholders, has indicated that a second notice of dismissal has been sent to the CEO.
This was done in the midst of a ruling in the Johannesburg High Court that Peter Moyo should be re-employed again until a disciplinary hearing was held.
The company dismissed Moyo without first holding a disciplinary hearing, and now the insurance giant appears to be failing to comply with the court’s finding.
Moyo was fired by the board in June and he took the company to court to demand his re-appointment. The court ruled in his favor that he should be re-appointed because the proper procedure was not followed and because the judge was unconvinced of Old Mutual’s true motive.
Old Mutual has dismissed Moyo for their concern over his share in declaring
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