PETER MOYO RETURNS TO WORK DESPITE OLD MUTUAL WARNING NOT TO

Moyo was reinstated to his position by the High Court in Johannesburg on Tuesday.

JOHANNESBURG – Old Mutual CEO Peter Moyo on Wednesday morning returned to work at the insurer’s headquarters in Sandton, despite warnings by the company that he shouldn’t.

Moyo was reinstated to his position by the High Court in Johannesburgon Tuesday.

The court declared his dismissal unlawful and ordered that he be temporarily reinstated pending the outcome of the second part of his application.

Moyo was fired for the way he handled conflict of interest related to the share payments from NMT Capital, a company he co-founded.

Old Mutual on Wednesday said it would appeal the judgment.

“Their legal position is incorrect. The correct position is that an interim order is not suspended by an application for leave to appeal. If you want to suspend an interim order, you need to go to court to get the order suspended,” said his lawyer Eric Mabuza, speaking to journalists at Old Mutual’s offices.

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