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Court rules that Old Mutual dismissal of Peter Moyo was unlawful

Peter Moyo was fired last month for alleged misconduct owing to the conflict of interests in his NMT Group.

FILE: Peter Moyo in the Johannesburg High Court on 18 July 2019. Picture: Nthakoana Ngatane/EWN

JOHANNESBURG – The Gauteng High Court in Johannesburg has ruled that the dismissal of former Old Mutual CEO Peter Moyo was unlawful and he should be reinstated temporarily.

The judge also ruled that Old Mutual could not take steps to replace Moyo in the interim.

Moyo was fired last month for alleged misconduct owing to the conflict of interests in his NMT Group.

Shares in the company fell more than 3% after the court ruling.

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