OldMutualBusinessLive reports that Old Mutual indicated that it would continue with its CEO recruitment process after the High Court in Johannesburg on Tuesday reserved judgment on the matter.  

In February, ousted CEO Peter Moyo filed an urgent application to interdict the financial services group from continuing with the process to hire his replacement.  Old Mutual has been involved in a bitter battle with Moyo since May 2019, when it suspended and later fired him over alleged conflicts of interest related to investment company NMT Capital.  A previous Johannesburg High Court judgment that Moyo had been fired illegally was overturned by a full bench of that court on 14 January. The judgment allowed Old Mutual to start the process of appointing a new CEO.  The group said any further legal challenges by Moyo would not derail its attempts to appoint a new leader and put the drawn out dispute behind it.


Get other news reports at the SA Labour News home page