Peter Moyo (Business Executive)

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Musician
Peter Moyo
Peter Moyo
BornMthandazo Peter Moyo
NationalityZimbabwe
Occupation
  • Businessperson

Peter Moyo is a Zimbabwean-born businessperson who is based in South Africa. He is the former CEO of the Old Mutual Group in South Africa. His employment with Old Mutual was terminated in June 2019 following disagreements over a conflict of interest issue with a company he owns, NMT Capital.[1]

Education

Moyo has a Bachelor of Accounting Science (Honors) degree from the University of South Africa (association incorporated in terms of Section 21), and a Higher Diploma in Tax Law from the University of the Witwatersrand and is a Chartered Accountant (South Africa). He also completed an Advanced Management Programme from Harvard Business School.

Career

Peter Moyo was a Partner at Ernst & Young until August of 1997. In September 1997 he joined Old Mutual as a Divisional Manager of Old Mutual Life Assurance Company (South Africa).

Later, in June 1998 he became General Manager until August 1998. He then Chief Executive Officer of the Employee Benefits Division in September 1998 and served in that position until September 2000 when he became Deputy Managing Director of Old Mutual Life Assurance Company (South Africa)

In November 2005, he joined Alexander Forbes as its Group Chief Executive Officer.

Serving on Boards

  • He was Chairman of Willis South Africa (Pty) Limited and CSC SA Proprietary Limited.
  • He served as the Independent Non-Executive Chairman of Vodacom Group Limited since May 18, 2009 until July 18, 2017.
  • He served as Chairman of Stanlib REIT Fund Managers RF Proprietary Limited until April 2017 and had been its Independent Non-Executive Director since June 17, 2016 until April 2017.
  • He served as a Non-Executive Director of Amabubesi Investments (PTY) Ltd. he was also executive director at some point.
  • Director of Telkom SA SOC Limited (alternate name: Telkom SA Ltd.) since September 19, 2001 until 2004
  • Chairman of Old Mutual alternative Risk Transfer Limited, Old Mutual Asset Managers (Namibia) (Proprietary) Limited, Old Mutual Health Insurance Limited, Old Mutual Healthcare (South Africa) (Proprietary) Limited, Old Mutual Properties (Proprietary) Limited, Old Mutual Portfolio Holdings (Namibia) (Proprietary) Limited, Old Mutual Unit Trust Management Company Namibia Limited and as deputy chairman of Old Mutual Holdings (Namibia) (Proprietary) Limited. Old Mutual Foundation Management (Proprietary Limited, Old Mutual Investment Administrators (Proprietary) Limited, Old Mutual Life Assurance Co (Namibia) Limited, Old Mutual Life Assurance Company (Zimbabwe) Limited, Old Mutual Life Holdings (South Africa) Limited, Old Mutual Specialised Finance (Proprietary) Limited, Old Mutual Technology Holdings (Proprietary) Limited; and as trustee of Old Mutual (Namibia) dividend Access Trust, STS Trust, T.D. Investment Trust, The Business Section 18A (c) (i) Education Trust, The Business Section 18A (c) (ii) Education Trust, The Business Section 18A (d) Education Trust, Old Mutual (South Africa) Foundation and the Old Mutual (Namibia) Foundation.
  • Director of Worldwide Capital Limited, Pinnacle Technology Holdings, Liberty Holdings Limited, Utafutaji Trading 36 (Pty) Limited, RZT Zelpy 4972 (Pty) Limited (Chairman), Lexshell 713 Investments (Pty) Limited, Clorpique 149 (Pty) Limited, Corridor Infrastructure Development Holdings, Mtha-We-Mpumalelo Investments, Plexus Fundamental - Funds (Pty) Limited and Darting Trading 161 (Pty) Limited.
  • Independent Non-Executive Director at Transnet SOC Limited from July 25, 2008 to July 6, 2012.
  • Director of Bulawayo Electrical Supplies (Proprietary) Limited
  • He serves on the Advisory Council of the Stellenbosch Business School

Dispute and Separation From Old Mutual

In late 2018 a dispute between Moyo and Old Mutual relating to NMT Capital, a company co-founded by Moyo which Old Mutual had invested in for a 20% stake back in 2004. NMT Capital had declared a dividend which benefited Moyo and yet there were debts outstanding to Old Mutual. The declaration of the dividend was considered a conflict of interest.

Old Mutual said it had not “been provided with an acceptable explanation” and in May 2019 suspended Moy. On 18 June 2019, the Old Mutual announced that it had terminated Moyo's contact with Old Mutual following “unsuccessful attempts to engage on the terms of separation”.[1]

References

  1. 1.0 1.1 UPDATE ON PETER MOYO AND TERMINATION OF EMPLOYMENT, Old Mutual Official Website, Published: 18 June 2019, Retrieved: 18 June 2019