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.
Old Mutual spokesperson Tabby Tsengiwe said they would issue a statement shortly on the matter. Moyo’s 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.
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Video by: Chelsea Lotz, Business Report TV
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