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'Whether or not Moyo leaves, Manuel's presence on board doesn't add any value'

30 September 2019 12:12 PM
Tags:
Old Mutual
Axe
Peter Moyo
Scorpio associate editor Sikonathi Mantshantsha explains the legalities between the insurance company and the CEO.

The legal battle between Old Mutual and its axed CEO Peter Moyo has been playing out in the public eye.

The High Court in Johannesburg on Monday ordered that Moyo be reinstated after he was fired for an alleged conflict of interest involving his NMT Group.

RELATED: Old Mutual promises more court action after barring Peter Moyo again

On Wednesday, Moyo was refused entry into Old Mutual's Sandton offices for the third time amid an ongoing legal dispute to reclaim his job.

To explain the legalities of this high profile case, Eusebius McKaiser is joined by Sikonathi Mantshantsha, associate editor at Scorpio - The Daily Maverick Investigative Unit.

Peter Moyo is being accused of taking his own personal interests ahead of Old Mutual.

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

He says this accusation arises from a dividend decision payout in July 2018.

He adds that based on the conflicts alone, both Moyo and Old Mutual board chairperson should leave the insurance company.

Based on that, perceived or real, Manual should have not been a board member at Old Mutual and Moyo should have never been hired because the insurer was a major funder of NMT Capital.

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

Whether or not Moyo leaves, Manuel's presence in Old Mutual board doesn't add any value.

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

Listen below to the full conversation:


30 September 2019 12:12 PM
Tags:
Old Mutual
Axe
Peter Moyo

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