The Johannesburg High Court on Tuesday upheld Old Mutual’s appeal against the temporary reinstatement of its sacked chief executive Peter Moyo.
The application was dismissed with costs when the judgment was handed down.
Moyo and Old Mutual have been locked in a dispute since the company suspended him for an alleged conflict of interest in 2019.
Nickolaus Bauer chats to the company's chief communications officer Tabby Tsengiwe to weigh in on the matter.
The judgment confirms that Old Mutual acted properly in terminating Mr Moyo's contract for the first time. We think that this a big win for corporate governance in South Africa as a whole.— Tabby Tsengiwe, Chief communications officer - Old Mutual
She says it is important to remember that it was Old Mutual's entire board that terminated Moyo's contract and it was Moyo's decision to paint the termination as an individual attack and dispute between himself and the chairman Trevor Manuel.
Listen below to the full conversation: