Old Mutual has suspended chief executive Peter Moyo with immediate effect, citing "a material breakdown in trust and confidence between him and the board". Picture: Henk Kruger/ANA/African News Agency
JOHANNESBURG - Pan-African investment, savings, insurance and banking group Old Mutual Limited said on Friday it had suspended chief executive Peter Moyo with immediate effect, citing "a material breakdown in trust and confidence between him and the board".

Moyo held the position of Chief Executive of Old Mutual since June 2017. The suspended chief executive resigned from the position of Vodacom Group chairman to join Old Mutual. 

Before joining Old Mutual Limited Moyo worked as the Group Chief Executive of the Alexander Forbes Group according to his LinkedIn page. 

Moyo is currently a Director at the Amabubesi Group. 

Old Mutual chief operating officer Iain Williamson will be assuming the role of acting Chief Executive of the company. 

Williamson has been working as the COO of Old Mutual since 2017. According to his LinkedIn page, Williamson has been working for the company since 1999 where he started as a senior manager. 

African News Agency (ANA)