Axed Old Mutual CEO Peter Moyo wants to censure the conduct of Old Mutual board members, including chairman Trevor Manuel, by charging them individually with contempt of court. If found guilty, the directors could be imprisoned - with chilling implications for corporate SA.
The gripping boardroom battle between Old Mutual and its fired-but-reinstated CEO Peter Moyo might make corporate history in South Africa. The four-month-long dispute playing out in the Johannesburg High Court has moved from a spat involving Old Mutual, its 13-member board and Moyo, to a corporate conflagration with very serious implications for errant company directors throughout the country.
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