Kaunda Selisho
Lifestyle Journalist
1 minute read
20 Mar 2020
10:45 am

Peter Moyo resigns from Nedbank board

Kaunda Selisho

An agreement between Old Mutual and Nedbank allows the insurer to nominate one director to the board as long as its stake is equal to or greater than 15%.

Axed CEO Peter Moyo claims his 'first prize' is to be reinstated at the helm of Old Mutual. Image: Moneyweb

After losing the most recent string of cases in his ongoing battle with his former employer, ex Old Mutual boss Peter Moyo has resigned from his post on the board of Nedbank as a non-executive director.

Moyo has been locked in battle with Old Mutual that began in June 2019 over his unceremonious dismissal due to a dispute over an alleged conflict of interest.

RELATED: Manuel happy to move on from Moyo drama

EWN reports that an agreement between Old Mutual and Nedbank allows the insurer to nominate one director to the board as long as its stake is equal to or greater than 15% in the Nedbank group.

READ NEXT: Why Peter Moyo pitched his damages claim at R250m

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