JOHANNESBURG - Old Mutual's interim chief executive Iain Williamson said on Tuesday the pan-African investment, insurance and banking group had prioritized the interests of all its stakeholders when changing its executive leadership.
Old Mutual confirmed that Williamson would continue as acting chief executive until the appointment of a permanent CEO after the company terminated the contract of Peter Moyo.
"The interests of all our stakeholders have been paramount throughout this process and Old Mutual's business operations on the ground remain unaffected," Williamson said.
"The company indeed continues to make solid progress in meeting its targets through continued management focus and an unrelenting commitment to putting our customers first."
Old Mutual's board suspended Moyo on May 23 after it concluded there had been a material breakdown in trust and confidence. Chairman Trevor Manuel said this followed prior engagements with Moyo over concerns about how a conflict of interest had been managed in relation to his investments in the NMT group of companies.