Old Mutual director will be first of many to resign, says Sikonathi Mantshantsha

Old Mutual has lost its first board member amidst the ongoing legal fight with its on-again, off-again CEO Peter Moyo.

Pinky Moholi resigned with immediate effect and financial journalist Sikonathi Mantshantsha expects that a few other board directors will follow suit.

Moholi chaired the remuneration committee at Old Mutual and served on the insurer’s board for seven years.

Moyo and Old Mutual have filed several legal actions against each other in a dispute about his axing.

Moholi was one of the 14 Old Mutual directors who unanimously agreed to have Moyo fired.

This is what happens when a board mishandles such a simple issue so badly.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

I expect a few other board directors to resign.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

One director gone and thirteen to go!

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Old Mutual investors will pay dearly for this.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Listen to the Finance Week That Was with Sikonathi Mantshantsha:


This article first appeared on CapeTalk : Old Mutual director will be first of many to resign, says Sikonathi Mantshantsha


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