The Johannesburg High Court on Tuesday ordered Old Mutual to immediately reinstate fired Zimbabwean-born CEO Peter Moyo and to pay all his legal costs because his suspension and subsequent dismissal in June was unlawful.
Judge Brian Mashile ruled that Old Mutual incorrectly applied a provision of South Africa’s Labour Relations Act as the law that allowed it to fire Moyo without affording him a disciplinary hearing.
The Judge ruled that Moyo should be temporarily reinstated pending part B of his court application.
Moyo is seeking to have all the directors of the Old Mutual board, including Chair Trevor Manuel, to be declared delinquent.