Share

Ex-Old Mutual CEO Peter Moyo quits Nedbank board

Embattled former Old Mutual CEO Peter Moyo has resigned from the board of Nedbank with effect from Wednesday, said the company in statement on Friday.

"Nedbank Group Chairman, Vassi Naidoo, thanked Peter for his contribution to the group since his appointment in 2018 in terms of the relationship agreement between Old Mutual Limited and Nedbank Group Limited, which provides for Old Mutual Limited to nominate one director to the boards of the Companies for as long as OML’s shareholding is equal to or greater than 15% in Nedbank Group," Nedbank said. 

Moyo’s resignation from his non-executive role in Nedbank comes amid a protracted legal battle with his former employer Old Mutual over his dismissal in June 2019.

On Tuesday, the Johannesburg High Court dismissed Moyo’s urgent application to prevent Old Mutual from hiring a new CEO permanently after the court ruled that the former executive's dismissal in January was lawful.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.93
+0.0%
Rand - Pound
23.90
+0.0%
Rand - Euro
20.40
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders