Peter Moyo resigns from Nedbank board
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 Old Mutual CEO Peter Moyo. 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.
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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.
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