South Africa's Old Mutual, Peter Moyo Tussle Far From Over

South African Insurance giant Old Mutual has confirmed that it sent a legal letter to former CEO Peter Moyo's attorneys, to provide clarity that it would not be seeking further court intervention relating to Moyo's second letter of termination, but has not "backed down" from its ongoing appeal process against an earlier judgement handed down in the High Court in the matter. Old Mutual chairperson Trevor Manuel has meanwhile spurned shareholder calls for him and other board members to resign over the axing of Peter Moyo. Meanwhile, one of Old Mutual's director's Nombulelo Moholi has resigned a year before her tenure expires - this as Moyo plans on suing all the board members in their personal capacity. Speculation is also growing on just how much Moyo will receive from Old Mutual, whether he goes or stays.

Old Mutual in Johannesburg.


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