Peter Moyo will now serve the four-and-a-half years remaining of his employment contract with Old Mutual. Picture: Moneyweb
Old Mutual has hit back at Peter Moyo, who pitched up for work on Wednesday morning following a High Court ruling that his dismissal from Old Mutual was unlawful and that he should be reinstated as CEO.
In the judgment, the court found Old Mutual had failed to follow the terms of Moyo’s employment contract when he was dismissed.
Old Mutual quickly lodged an appeal, which will prolong the ongoing fracas between the company and Moyo.
The former CEO had intended on going about his daily work routine on Wednesday. Old Mutual, however, cried foul.
“Mr Moyo is not permitted nor allowed to resume duty because our leave to appeal actually means that the [court] order to have him reinstated is suspended.”
Old Mutual said Moyo was not permitted nor required to report for duty.
Moyo had earlier told reporters that the matter was a complex one and that he would nonetheless act in a professional manner.
Moyo’s lawyer, Eric Mabuza, was adamant nothing was stopping his client from going to work.
“There’s nothing that stops him from going to work, there is no appeal, a notice of appeal doesn’t suspend the order,” he told Fin24.
Mabuza wrote a letter to Old Mutual’s lawyers, Bowman Gilfillan Attorneys, saying that if the company prevented Moyo from resuming his duties, they would be in “wilful contempt of court”.
(Compiled by Gopolang Moloko, additional reporting by Daniel Friedman)
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