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Old Mutual must come to its senses! - Eric Mabuza (Peter Moyo's lawyer)

17 February 2020 1:08 PM
Tags:
Old Mutual
Eric Mabuza
Conflict of interest
Clement Manyathela
Peter Moyo
NMT Capital
The insurer may not appoint a new CEO – it’s unlawful, argues Eric Mabuza, lawyer of Old Mutual’s disgruntled former CEO.

Peter Moyo has approached the court to stop Old Mutual from appointing a new Chief Executive Officer.

The disgruntled former CEO has been fighting the insurer since May 2019 after it suspended and later fired him over what it claims to be a conflict of interest relating NMT Capital which he founded and of which Old Mutual is a 20% shareholder.

FILE: Peter Moyo in the Johannesburg High Court on 18 July 2019. Picture: Nthakoana Ngatane/EWN

Old Mutual regrets that we are being drawn into yet another round of court proceedings by Mr Moyo. We confirm that we will continue to act responsibly, remain focused on our core business and protect the interests of Old Mutual and its stakeholders.

Old Mutual

Clement Manyathela interviewed Moyo’s lawyer, Eric Mabuza.

Within an hour of that judgment, we informed Old Mutual that we intended to appeal… We expected them to not go ahead with the recruitment process…

Eric Mabuza, lawyer - Peter Moyo

This whole application is completely unnecessary! … We simply don’t understand why Old Mutual is acting in this way…

Eric Mabuza, lawyer - Peter Moyo

Old Mutual must come to its senses… another act of contempt of court… Old Mutual has decided to take the law into its own hands… it’s not too late… they can still pull back from this unlawful act…

Eric Mabuza, lawyer - Peter Moyo

Listen to the interview in the audio below.

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17 February 2020 1:08 PM
Tags:
Old Mutual
Eric Mabuza
Conflict of interest
Clement Manyathela
Peter Moyo
NMT Capital

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