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Moyo, Old Mutual battle heats up

JOHANNESBURG — Counsel for axed Zimbabwean-born Old Mutual CEO Peter Moyo say if the Johannesburg High Court endorses the insurer’s decision to fire Moyo, then employees will never be able to demand fair hearings. Advocate Dali Mpofu has rebutted Old Mutual’s arguments that Moyo’s case to be reinstated should be dismissed.

Moyo was fired last month for alleged misconduct owing to the conflict of interests in his NMT Group.

His case has put three laws under scrutiny at the Johannesburg High Court. The first is the Company Act and its ability to police conflicts of interest.

Mpofu argued that he had complied, but Old Mutual board chair Trevor Manuel hadn’t with regard to his conflicts of interest.

“Our client states: to the best of my recollection Mr Manuel stayed in the room while the issue was discussed, this does not amount to a proper recusal, I mean
have you ever.”

But Old Mutual lawyer Advocate Ngwako Maenetje maintains Manuel complied. — Eyewitness News

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