Axed Old Mutual boss Moyo loses in court

JOHANNESBURG – The South Gauteng High Court yesterday paved the way for the appointment of a new Old Mutual chief executive after it dismissed axed boss Peter Moyo’s attempt to halt it.

Judge Colin Lamont dismissed Moyo’s application for an interdict prohibiting the hiring of a permanent chief executive. He also dismissed Moyo’s application to consolidate the pending contempt of court matter with the urgent interdict application.

The court further held that there had been no constitutional interference with Moyo’s right to work, dignity or self-worth and that Moyo was not entitled as a matter of constitutional law to employment at a particular employer.

Old Mutual, the 174-year-old insurance group, said that it looked forward to continuing with its intensive process to recruit a permanent chief executive.

“This will give us and the market much-needed certainty. Until then, we remain in the capable hands of interim chief executive, Iain Williamson and his skilled executive committee,” said the group.