Today's Labour News

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OldMutualBusiness Report writes that Old Mutual said on Monday that it would be filing appropriate appeal papers in the next few days after it barred sacked chief executive Peter Moyo from returning to work.  

The insurer prevented Moyo from going to work, despite the South Gauteng High Court order on Friday that rejected its efforts to keep him out of his job.  Old Mutual indicated as follows:  “Old Mutual will be filing the appropriate appeal papers in the next few days and will let you know when we have been granted a date for the hearing and which court will hear it.  Old Mutual representatives have the full authority of the board to enforce the second notice of termination and take all the related steps.”  Moyo’s triumphant return to the company's Sandton office on Monday was short-lived after Old Mutual’s legal team informed him that the further notice of termination it gave to him last month stood and Old Mutual’s contractual rights remained intact.  Moyo was axed in June when the board cited a material breakdown of trust and confidence in him.  He had been placed on suspension a month earlier amid an alleged conflict of interest.  Last month, the insurer gave a further notice of termination, the validity of which was not the subject of the court hearing on Friday.

  • Read the full original of the above report by Dineo Faku at Business Report

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