CAPE TOWN – Axed former CEO Peter Moyo returned to Old Mutual's offices in Sandton Wednesday morning, but was refused entry for the third time, as he seeks to reclaim his job.
"Moyo is not permitted nor required to return to work, as the second notice of termination given to him on August 22 remains valid. A letter has been served on his attorney after Old Mutual learnt...that Moyo intends to report for duty tomorrow,” a statement from Old Mutual said Wednesday.
IN addition, Old Mutual was in the process of filing papers in its pending appeal against the judgment granting Moyo temporary relief., the insurer said.
“Due to the importance of bringing stability and certainty for its stakeholders, Old Mutual has argued that the appeal hearing be expedited and be heard as early as November.” a statement from Old Mutual said,.
Moyo’s third attempt to go to work attempt followed a court ruling on Monday that he had to be reinstated on a temporary basis after his first dismissal in July. Old Mutual had fired Moyo again in August.
Old Mutual has defended the previous two occasions where they denied him access to their offices by contending that Moyo had not challenged his second dismissal in court.
The South Gauteng High Court on Monday granted him leave to bring new evidence in his contempt of court application against Old Mutual, meaning he could introduce his second letter of termination in the court proceeds.
Moyo has argued that Old Mutual was in contempt of court for not allowing him back at work.
Bloomberg reported that Moyo wants to file an application to have Old Mutual’s directors declared delinquent and for his permanent reinstatement by the end of this week.
Old Mutual director Nombulelo Pinky Moholi resigned from the board last week, which has raised questions from commentators and Moyo about the alleged unambiguity of the board’s decision, under chairman Trevor Manuel, to fire Moyo.
Manuel also publicly apologised last week for making a denigrating remark two weeks ago about a judge, following a ruling that the board’s decision to fire Moyo was illegal, and that he should be reinstated.
Moyo was dismissed in June over what the insurer has called a conflict of interest in boutique investment firm NMT Investments